Crypto.com has obtained a major payment license from the Monetary Authority of Singapore, growing the number of such players in the city-state to over a dozen.
Crypto.com has obtained a major payment license from the Monetary Authority of Singapore (MAS), according to a statement, which will allow the firm to continue extending digital payment token (DPT) services to customers in the city-state.
This follows the obtainment of an in-principle approval from MAS in June 2022.
Over a Dozen
Crypto.com becomes the 13th firm that can offer DPT services, either through the major payment institution license or standard payment institution license.
«Singapore continues to be a hub for blockchain and fintech innovation,» said Crypto.com Singapore general manager Chin Tah Ang.
Job Cuts
In January, Crypto.com announced that it would reduce its global workforce by about 20 percent due to challenges driven by the FTX collapse. This follows a July 2022 announcement to cut 260 jobs, or 5 percent of its workforce at the time, to withstand a macroeconomic downturn.
Crypto.com was founded in 2016 and is headquartered in Singapore with more than 80 million customers worldwide.
