Upbit Singapore Gains MPI License From MAS
Singapore’s leading cryptocurrency exchange, Upbit Singapore, has been granted a Major Payment Institution (MPI) license by the Monetary Authority of Singapore (MAS), marking a significant step for the exchange in expanding its operations within the region’s regulated framework. Upbit Singapore, part of the Upbit APAC group, has been operational since 2018 and serves a diverse range of clients, including retail and institutional investors.
The acquisition of the MPI license enables Upbit to offer a broader spectrum of digital asset services, reinforcing its position in Singapore’s competitive digital asset marketplace. The license will expand team size, enhance institutional business offerings, and increase the variety of digital assets listed on the platform.
This growth aligns with Singapore’s rigorous regulatory standards, emphasizing the exchange’s commitment to compliance and security. Upbit Singapore’s approach reflects the broader goals of Upbit APAC, which operates regulated digital asset exchanges in various Asian countries, including Indonesia and Thailand.
(With inputs from Shikha Singh)
You need to login in order to Like
