Crypto exchange Blockchain.com has become the latest crypto company to secure preliminary approval from Singapore’s central bank to provide Digital Payment Token services in the city-state.
Blockchain.com’s regulatory approval follows hot on the heels of Coinbase, which revealed it had received the same “in-principle” approval from the Monetary Authority of Singapore (MAS) on Oct. 11.
If officially approved, Blockchain.com would join the likes of companies already licensed for digital Payment Token services including crypto exchanges DBS Vickers and Independent Reserve, digital payment solution provider FOMO Pay, and crypto-friendly payments application Revolut, among others.
Blockchain.com CEO and co-founder Peter Smith commended the country’s regulators for creating a “transparent regulatory process” to foster innovation, stating:
“Blockchain.com commends the Monetary Authority of Singapore on its transparent regulatory process that prioritizes crypto industry oversight while...
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