Straits Millennium Pte Ltd, a member of Singapore-based financial services firm Straits Financial Group, has on Monday announced that it has obtained an in-principle approval from the Monetary Authority of Singapore (MAS) for a Major Payment Institution (MPI) License to offer digital payment token (DPT) services in the country.
This significant milestone grants Straits Millennium the ability to offer DPT services, reinforcing the Straits Financial Group’s position as a key player in Singapore’s rapidly evolving digital asset ecosystem, Straits Millennium said in a statement.
“Securing the in-principle approval for our MPI license is a testament to our unwavering commitment to regulatory excellence, innovation, and customer-centric solutions,
“Singapore has established itself as a global leader in digital asset regulation, and we are proud to play a role in shaping the future of the financial industry,” said Jeremy Ang, Group Chief Executive Officer of Straits Financial Group.
“With our deep expertise in derivatives, commodities, and institutional financial services, we are well- positioned to provide trusted and seamless digital asset offerings to our clients,
“We look forward to working closely with MAS to finalize our full license and deliver best-in-class services to the market,” he added.
Meanwhile, Amily Ho, Digital Assets Lead at Straits Millennium, emphasized the company’s focus on institutional solutions.
“The demand for compliant, seamless, and efficient digital token services continues to rise, and Straits Millennium is here to bridge that gap,
“Our in-principle approval allows us to build a secure and regulated ecosystem for industry players who require reliability, transparency, and scalability in their digital asset operations,” she said.
“Whether it’s facilitating liquidity solutions or enabling efficient trading services, we are committed to delivering innovative and regulatory- compliant services that meet the evolving needs of the market,” she added.
According to the statement, the in-principle approval marks the beginning of Straits Millennium’s journey in the regulated digital asset space.
The firm said it is actively working toward securing its full MPI License from MAS, which will further solidify its position as a trusted and leading provider of digital asset financial services.
Straits Millennium is a Singapore-based digital asset financial services firm.
With a strong focus on regulatory compliance, institutional- grade security, and financial innovation, the company aims to bridge the gap between traditional finance and digital assets, offering seamless digital asset financial solutions tailored for today’s evolving financial landscape.
As a member of the Straits Financial Group of companies—whose members provide financial services on a global scale, specializing in commodities, derivatives, and financial brokerage, Straits Millennium said the firm is positioned to bridge the gap between traditional financial markets and digital assets.
It opined that this approval aligns with Singapore’s vision of becoming a global digital asset hub while ensuring strong regulatory compliance and risk management.
According to the statement, Straits Millennium’s new services will enable businesses and institutional investors to navigate the complexities of digital asset transactions with confidence.
The firm will provide market participants with a regulated and efficient platform to facilitate the exchange of digital payment tokens and fiat currencies, ensuring competitive trade execution and adherence to industry best practices.
Its approach to digital asset services is anchored in compliance, security, and institutional-grade risk management.