Singapore-based crypto exchange BHEX.SG has received the Standard Payment Institution licence from the Monetary Authority of Singapore (MAS), which will enable the firm to offer digital payment token (DPT) services to customers in Singapore.

BHEX.SG said in a statement the new acquirement comes after a stringent examination and approval process conducted by MAS, and licensees are required to meet a high bar of compliance requirements to protect consumers.

Founded in 2018, BHEX.SG operated by Bhop Consulting Pte Ltd is committed to providing best in class compliant crypto trading services with focus on building a better future with technology to ensure compliance and reliability.

The platform is powered by an expert team, each with an average experience of 10 years or more in the digital asset industry. Its Chief Executive Officer Tyler Wu further adds in his strong track record in the digital asset and financial space into the portfolio.

The platform provides users with more convenient and smoother services at lower costs.

Since it was founded in 2018, there has been no system accidents or fraud incidents reported in the past few cryptocurrency cycles. Continuous upgrades of system infrastructure and security risk managements are implemented to mitigate any possible new threats and meet the growing demands of the industry.

BHEX.SG has partnered with leading licensed service providers in the global market aiming to focus and better serve institutional investors, family offices, accredited and high net worth investors rather than the retail investors, as this crypto field is still volatile for the retail segment.

“Compliance is an essential element in the digital asset industry and BHEXSG is committed to being a fully compliant service provider to protect our customers. Future opportunities in the industry belong to companies that practice these values,” said Wu.

With Singapore being among the most competitive economies globally and serving as a regional hub, he also believes that Singapore plays a significant role as a financial and crypto pioneer in Southeast Asia.

To further unlock the potentials of this market, BHEX.SG will aim to provide an improved crypto landscape for the public.

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