Sygnum Singapore, a subsidiary of Switzerland-based cryptocurrency bank Sygnum, has been granted a license to offer crypto brokerage services to accredited investors and institutions in Singapore. The Major Payment Institution Licence (MPIL) was granted by the Monetary Authority of Singapore (MAS). Sygnum Singapore also plans to expand its regulated offering to the Asia–Pacific (APAC) markets, such as Hong Kong.
On Oct. 1, Coinbase also received the Major Payment Institution (MPI) license from the MAS. This license allows Coinbase to conduct payment services without being subjected to transaction limits of 3 million Singapore dollars ($2.2 million) for any payment service.
Sygnum manages nearly $3.5 billion (3.2 billion Swiss franc) Assets Under Management (AuM) across more than 60 countries, having crypto footprints in Luxembourg and Abu Dhabi.
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | Asia |
| Countries | 🇸🇬 🇨🇭 🇱🇺 🇭🇰 |
| Sentiment | neutral |
| Relevance Score | 8 |
| People | Sygnum Singapore spokesperson, JW Verret |
| Companies | GSR, Monetary Authority of Singapore (MAS), Sygnum Singapore, Coinbase, Sygnum |
| Currencies | Swiss Franc, Bitcoin, Singapore Dollar, Ethereum |
| Securities | None |
