South Korean Exchange Upbit Receives Preliminary Approval for Crypto License in Singapore
Upbit Singapore Granted In-Principle Approval for MPI License
The Monetary Authority of Singapore (MAS) has granted Upbit Singapore, the local entity of South Korea’s largest exchange, preliminary approval for a Major Payment Institution (MPI) license. This license will allow Upbit to offer digital payment token services to institutional investors while it awaits its full license.
A Positive Development for Upbit Singapore
Upbit Singapore is thrilled to have received the in-principle approval from MAS. This is a significant milestone for the exchange as it paves the way for providing secure and regulated crypto services to institutional investors in Singapore.
Continuing Digital Payment Token Services
The approval from MAS means that Upbit Singapore can continue offering digital payment token services to institutional investors without any disruption. This is a crucial step towards establishing Upbit as a trusted and compliant cryptocurrency exchange in the Singapore market.
Building Trust and Confidence
Upbit Singapore is committed to building trust and confidence among its customers by adhering to regulatory standards. The exchange aims to provide a safe and transparent platform for investors to engage in cryptocurrency trading.
Expansion Plans and Market Outlook
With this approval, Upbit Singapore is now well-positioned to expand its services and capture a larger market share in Singapore. The exchange is optimistic about the future of cryptocurrencies and aims to be a key player in the digital asset industry.
Upbit Singapore’s Team
Upbit Singapore’s dedicated team is located in the heart of Singapore’s downtown area. They are passionate about cryptocurrencies and are excited to bring innovative solutions to the market.
Overall, the preliminary approval from MAS is a significant milestone for Upbit Singapore, signaling its commitment to regulatory compliance and its dedication to providing secure and reliable crypto services to institutional investors in Singapore.
