Crypto.com has received its Major Payment Institution (MPI) licence for Digital Payment Token (DPT) services from the Monetary Authority of Singapore (MAS), following its in-principle approval from the MAS in June 2022.
This makes Crypto.com the 12th firm to receive the full licence in Singapore, joining the likes of players such as Independent Reserve and Coinhako. The approval allows Crypto.com to provide end-to-end cryptocurrency payment services for businesses, including crypto payments gateway for e-commerce, crypto payouts and crypto remittances.
Kris Marszalek, CEO of Crypto.com, says: “The MAS is recognised globally as a regulator that ensures responsible innovation of the digital assets sector. We are proud to receive the licence from a regulator that prioritises consumer protection, safety, and security. We look forward to continuing to collaborate with MAS and leading at the forefront of crypto in our home market of Singapore.”
Crypto.com was founded in 2016 in Hong Kong, and moved its headquarters to Singapore in 2021. As of May 2022, the company had 50 million customers and 4,000 employees.
