Cryptocurrency exchange Cryptocom has successfully completed its licensing process in Singapore after obtaining principle approval last June.
The exchange announced on Thursday, June 1, that Cryptocom has acquired a Large Payments Authority (MPI) license for Digital Payment Token (DPT) services from the Monetary Authority of Singapore (MAS).
Kris Marszalek Praises Singapore Monetary Authority
Kris Marszalek, CEO of Crpytocom, made a statement on the subject: “The Singapore Monetary Authority is known worldwide as a regulator providing responsible innovation in the digital assets sector.”
Last year, MAS cemented its reputation as a regulator that sets a high bar for approving companies by pledging to be ruthless and tough on bad behavior in the crypto industry. However, a number of leading crypto companies, including Coinbase and Blockchaincom, also received regulatory approval last year.
Cryptocom has previously received approval for the MVP Foundation License from the Dubai Virtual Assets Regulatory Authority (VARA). The exchange has also licensed Electronic Financial Transactions Act and Virtual Asset Service Provider in South Korea.
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