On June 1, the company received a Principal Payment Institution (MPI) license for digital payment token (DPT) services from the Monetary Authority of Singapore (MAS).
“MAS is globally recognized as a regulator for responsible innovation in the digital asset sector. We are proud to have received a license from a regulatory body that prioritizes consumer protection, safety and reliability,” announced Crypto.com CEO Kris Marszalek.
The MAS license will allow the Crypto.com exchange to provide citizens of the city-state with a full range of cryptocurrency services, including opening accounts, as well as cross-border and domestic money transfers.
In January, Crypto.com management announced they were laying off 20% of their staff due to negative market conditions caused by the collapse of FTX.
Source: Bits
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