Singapore-based mostly crypto trade MetaComp has been granted Singapore’s Big Payment Establishment license, enabling it to offer electronic asset exchange and custody companies to institutional buyers from Thursday, Dec. 1.
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- The exchange announced on Thursday that it was awarded the Financial Authority of Singapore’s (MAS) license, allowing the trade to give cross-border transfers and electronic payment token solutions to accredited clients in Singapore.
- MAS, the nation’s central bank, has discouraged retail traders from participating in cryptocurrency investing, but continue to hopes to turn into a “crypto hub” through tokenized assets and programmable dollars.
- MetaComp is a subsidiary of MetaVerse Environmentally friendly Exchange (MVGX), a digital belongings exchange presenting tokenized carbon credits, which in addition retains the Identified Market place Operator and Capital Marketplace Providers licenses in Singapore.
- Singapore has been ramping up license grants in the latter half of this calendar year, awarding in-principle approvals to a rising listing of exchanges that features Coinbase and Blockchain.com.
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