The Monetary Authority of Singapore (MAS) has
officially granted Upbit Singapore a Major Payment Institution (MPI) license,
marking a pivotal advancement in its commitment to complying with the Payment
Services Act 2019.
Alex Kim, the Founder and CEO of Upbit Singapore,
mentioned: “Singapore has emerged as a global hub for digital asset
innovation, and its significance for institutional business cannot be overstated.
Upbit Singapore is poised to be the nexus of institutional activities,
capitalizing on Singapore’s robust regulatory framework and its reputation as a
leading financial center in Asia.
“This license marks an important step for us to
serve institutional and retail clients with cutting-edge digital asset
solutions contributing to Singapore’s thriving digital ecosystem.”
This milestone places Upbit Singapore, a subsidiary
of Upbit APAC, within the purview of the global digital asset group. Upbit APAC
oversees regulated digital asset exchanges in Singapore, Indonesia, and
Thailand.
Upbit Singapore’s attainment of the MPI license from
MAS represents not just a regulatory triumph but a significant leap toward
facilitating the integration of digital assets within the institutional finance
landscape.
Expect ongoing updates as this story evolves.
The Monetary Authority of Singapore (MAS) has
officially granted Upbit Singapore a Major Payment Institution (MPI) license,
marking a pivotal advancement in its commitment to complying with the Payment
Services Act 2019.
Alex Kim, the Founder and CEO of Upbit Singapore,
mentioned: “Singapore has emerged as a global hub for digital asset
innovation, and its significance for institutional business cannot be overstated.
Upbit Singapore is poised to be the nexus of institutional activities,
capitalizing on Singapore’s robust regulatory framework and its reputation as a
leading financial center in Asia.
“This license marks an important step for us to
serve institutional and retail clients with cutting-edge digital asset
solutions contributing to Singapore’s thriving digital ecosystem.”
This milestone places Upbit Singapore, a subsidiary
of Upbit APAC, within the purview of the global digital asset group. Upbit APAC
oversees regulated digital asset exchanges in Singapore, Indonesia, and
Thailand.
Upbit Singapore’s attainment of the MPI license from
MAS represents not just a regulatory triumph but a significant leap toward
facilitating the integration of digital assets within the…
