receives in-principle approval from the Monetary Authority of Singapore


Crypto exchange platform has finally received in-principle approval from the MAS or Monetary Authority of Singapore to offer a range of payment services in the city-state. Moreover, the MAS has been in a happy mood to give the green light to two more crypto firms — Genesis and Sparrow — to provide similar products and services. to offer multiple services

According to a recent announcement made by, the latest approval will enable it to offer a variety of settlement solutions.

These solutions, which offer Digital Payment Token (DPT) services to Singaporean customers, would fall under the Payment Services Act. Kris Marszalek, co-founder and CEO of the platform, commented on the approval. He said:

“The Monetary Authority of Singapore sets a high regulatory bar that cultivates innovation while protecting consumers, and their in-principle approval of our application reflects the trusted and secure platform we have worked diligently to build.”

He added that exchange is “ready to dive and capture the next wave of growth.”

Notably, the exchanges joined hands with LeBron James to educate people about crypto and blockchain in January this year.

In addition to, the MAS approved Genesis, a broker of digital assets, and Sparrow, a platform for trading cryptocurrencies. They would be able to offer DPT services in Singapore under a rigorous regulatory framework, just like

Heng Swee Keat, Singapore’s Deputy Prime Minister, said, “We must continue to build trust through regulatory guardrails while encouraging innovation and realizing gains.”

With the most recent approvals, the MAS has now said “yes” to 14 different crypto firms. This, however, represents only a small portion of the 200 candidates who have applied for the watchdog’s approval over the years.

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