(ST) Singapore has granted an in-principle crypto payment services license to Crypto.com, paving the way for the digital asset exchange to offer domestic services.
The licenses by the Monetary Authority of Singapore were also granted to Genesis and Sparrow Tech.
Crypto.com CEO Kris Marszalek says the approval reflects the trust that MAS has in the secure platform that Crypto.com has worked diligently to build.
MAS has now given 14 in-principle licenses to firms seeking to offer crypto services to Singapore-based clients. The regulator has received around 196 applications, with three rejected and 74 withdrawn.
Singapore granted its first full license to FOMO Pay in September 2021.
CROUSD is down -2.23%.
