Crypto company Blockchain.com was granted a major payment institution (MPI) license from the Monetary Authority of Singapore (MAS) on 1 August 2023.
With this new license, Blockchain.com will be able to provide regulated digital payment token (DPT) services to its global institutional and accredited investor customers.
This announcement follows its in-principle approval that the company secured from the regulator in September 2022.
Since its inception in 2011, Blockchain.com reports that it has more than 90 million wallets and over 40 million verified users, having facilitating over US$1 trillion in crypto transactions.
“We are thrilled to receive this license that will allow Blockchain.com to bring our industry-leading products and services to Singapore, we commend the Monetary Authority of Singapore on its transparent regulatory process that prioritises crypto industry oversight while allowing innovation to thrive,”
said Peter Smith, CEO and Co-Founder of Blockchain.com.
This post originally appeared on TechToday.