January 27, 2023

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MetaComp becomes the latest crypto exchange to receive Singapore license

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. 

See similar short article: MAS says desires to do far better task describing crypto policy 

Fast specifics

  • 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.

See connected short article: Chainlink, green asset exchange MVGX to take a look at crypto carbon buying and selling