Singapore-based cryptocurrency exchange company Crypto.com announced Thursday that it has received its major payment institution (MPI) license for digital payment token (DPT) services from the Monetary Authority of Singapore (MAS).

This announcement follows Crypto.com receiving its in principle approval from MAS in June 2022, Crypto.com said in a statement.

With this license, Crypto.com can continue to extend its digital payment token (DPT) services to customers in Singapore.

This announcement follows Crypto.com receiving its in principle approval from MAS in June 2022.

“The Monetary Authority of Singapore is recognized globally as a regulator that ensures responsible innovation of the digital assets sector,”

“We are proud to receive the license from a regulator that prioritizes consumer protection, safety, and security. We look forward to continuing to collaborate with MAS and leading at the forefront of crypto in our home market of Singapore,” said Kris Marszalek, Chief Executive Officer of Crypto.com.

Crypto.com Singapore General Manager Chin Tah Ang said that Singapore continues to be a hub for blockchain and fintech innovation.

“The major payment institution license underscores our ongoing commitment to build with the Web3 community in Singapore,” he said.

Today’s announcement continues Crypto.com’s regulatory license momentum, having received approval in November 2022 for a major payment institution license for e-money issuance, account issuance, cross border and domestic money transfer services from the Monetary Authority of Singapore.

Crypto.com has also received approvals from various other jurisdictions including France, United Kingdom, Dubai, South Korea, Australia, Italy, Greece, Cyprus, Cayman Islands, United States, Canada.

Founded in 2016, Crypto.com committed to accelerating the adoption of cryptocurrency through innovation and empowering the next generation of builders, creators, and entrepreneurs to develop a fairer and more equitable digital ecosystem.

The firm is used by more than 80 million customers worldwide.