So far, more than a dozen firms have received the MPI and in-principle approvals from the MAS. Most recently, crypto exchange crypto.com and Boston-based stablecoin issuer Circle, were awarded the full licence in June.
US cryptocurrency exchange Coinbase has received its major payment institution (MPI) licence from the Monetary Authority of Singapore (MAS), following its in-principle approval from the state regulator last October.
This licence will allow Coinbase to offer regulated digital payment token (DPT) products and services. It will also pave the way for an enhanced range of DPT services to both individuals and institutions, according to a release from Coinbase on Oct 2.
