The full licence will allow players to offer digital payment tokens — or cryptocurrencies services to individuals and institutions.
One of the oldest surviving cryptocurrency exchanges in the world, Bitstamp, has received its in-principle approval (IPA) from the Monetary Authority of Singapore (MAS) for its major payments institution licence (MPI) on Mar 6.
The exchange, which was founded in Slovenia in 2011 and based in Luxembourg, has been operating under an exemption from the payment services act, an entitlement offered to exchanges who applied for the licence before July 2020.
