MetaComp receives Singapore license

The crypto exchange can now offer its services in the country alongside Coinbase and Blockchain.com

Singapore-based crypto exchange MetaComp has received the country’s Major Payment Institution license.

 The license will enable the company to offer digital asset exchange and custody services to institutional investors.

The exchange made the announcement on Thursday, December 1, declaring that it has received the go-ahead from the nation’s central bank, the Monetary Authority of Singapore (MAS).

Receiving such approval from the MAS means the company is now allowed to provide cross-border transfers and digital payment token services to Singapore’s accredited clients.

Over the last six months, Singapore has been granting regulatory licencing and awarding in-principle approvals to several crypto exchanges.

Coinbase and Blockchain.com are among the list of companies to have received regulatory approval from the MAS.

Although MAS discourages retail traders from affiliating themselves with cryptocurrency trading, the organization still has hopes for Singapore to become a “crypto hub”, but rather through tokenized assets and programmable money instead.

Looking for your next crypto casino? Check out: Bitcasino, Gamb.co or FortuneJack.

Written by Isabella Aslam

Reporter

Isabella is an experienced writer in B2B and B2C journalism. Alongside crypto, Isabella writes and discusses the topics of relationships and psychology. Isabella holds a first-class degree in music journalism and often interviews electronic artists and DJs.

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