Circle has been licensed from Singapore as part of its global expansion and growth of payment services.
In these days when the crypto industry is going through tough times, the work of organizations serving in the crypto field continues at full speed. Circle, one of these organizations and the issuer of USDC, obtained a license in Singapore through its subsidiary.
Circle, through its Singapore subsidiary, announced that it has obtained a Large Payment Institution (MPI) License in the city-state.
Stablecoin Issuer Circle Strengthens in Singapore
Circle, the company behind USDC, continues to expand globally and strengthen its presence in every region. In its latest move, the company has obtained a license from Singapore.
Circle will continue its services in cross-border and domestic money transfers in Singapore under the Large Payment Institution (MPI) License. In addition, Circle has secured its digital payment token services. The company underlined that they have taken one more step in promoting innovation and offering more value to customers.
Circle obtained its license from the Monetary Authority of Singapore through Circle Singapore. The subsidiary company plays a major role in ensuring the necessary compliance processes in the city-state.
Circle’s Co-Founder and CEO, Jeremy Allaire, said:
Singapore is an integral part of Circle’s global expansion and mission to promote global economic well-being and frictionless value exchange. We are honored to receive the MPI license from MAS and are committed to being a part of Singapore’s dynamic economy by advancing the future of financial technology innovations in the city-state, stimulating the emerging technology and fintech sector.
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