Blockchain.com Receives Major Payment Institution License From Singapore's Monetary Authority

Crypto platform Blockchain.com on Tuesday, announced that it has received a major payment institution (MPI) license from the Monetary Authority of Singapore (MAS).

The exchange received its in-principle approval from MAS in September 2022.

With this license in hand, Blockchain.com is now authorized to offer regulated digital payment token (DPT) services to its vast clientele of global institutional and accredited investors, the company stated in a press release.

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Peter Smith, CEO and co-founder of Blockchain.com expressed his enthusiasm about the development, stating, "We are thrilled to receive this license that will allow Blockchain.com to bring our industry-leading products and services to Singapore."

He further lauded the MAS for its transparent regulatory approach, emphasizing its balance between ensuring crypto industry oversight and fostering innovation.

The company stated that Singapore not only stands as a lucrative trading hub for the platform, catering to global institutional and accredited investors but also functions as Blockchain.com's primary base in Southeast Asia.

The platform claims a user base of over 90 million wallets and more than 40 million verified users, and facilitated crypto transactions exceeding $1 trillion.

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