South Korean Crypto Firm Upbit Gets Regulatory Greenlight in Singapore
Upbit Singapore has received in-principle approval for a Major Payment Institution (MPI) license by MAS.
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Upbit Singapore has received in-principle approval for a Major Payment Institution (MPI) license by MAS.
The Singaporean entity for Upbit, South Korea’s largest exchange by volume, has received in-principle approval for its crypto-services licences from the Monetary Authority of Singapore.
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Today, we are pleased to announce that the Monetary Authority of Singapore (MAS) has granted an in-principle approval (IPA) for a Major Payment Institution (MPI) licence to Upbit Singapore Pte. Ltd. (Upbit Singapore). The IPA enables Upbit Singapore to continue providing regulated Digital Payment Token services in compliance with the Payment Services Act 2019 whilst awaiting the grant of the full licence.
Upbit Singapore secures in-principle approval from the MAS