The Monetary Authority of Singapore has awarded three more in-principal approvals for its digital payment license which allows firms to offer crypto services.
The MAS has issued three more in-principal approvals for the digital payment token (DPT) license, according to a recorded speech by the city-state’s Deputy Prime Minister Heng Swee Keat during the opening of the Point Zero Forum in Switzerland.
The three applicants were not named at the event which is hosted by Elevandi, a company jointly established by the MAS and the Swiss Secretariat for International Finance. Including the latest additions, Singapore has thus far granted licenses and in-principal approvals to 14 DPT service providers.
«Regulators and most of the fintech community share a common goal, which is to use finance and tech to create value and improve lives. They need not be operating at cross purposes or take an adversarial approach. Doing so works to no one’s benefit,» Heng said, adding that crypto assets have recently been in the post light for the «wrong reasons» and that much of its value lies «away from the retail glare».
