obtains major payment institution license in Singapore

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By BitcoinWiki News

Key Takeaways:

– Cryptocurrency business obtains payment license in Singapore
– Monetary Authority of Singapore issues major payment institution license on August 1
– License allows exchange to provide regulated digital payment token services
– MAS commits up to S$150 million under fintech and innovation program
– Singapore’s High Court considers cryptocurrency property in recent case
– MAS publishes report on tokenization and institution grade DeFi protocols, a cryptocurrency business, has received a payment license from the Monetary Authority of Singapore. This license allows the company to provide regulated digital payment token services to its institutional and accredited investor customers. Singapore’s central bank also announced a commitment of up to S$150 million for a fintech and innovation program that supports web3 technology. The country’s High Court recently ruled that cryptocurrency assets are considered property. Additionally, the Monetary Authority of Singapore published a report with the Bank for International Settlements on tokenization and institution-grade DeFi protocols.

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