Crypto.com has obtained a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS) o offer its Digital Payment Token (DPT) services to consumers in Singapore. The crypto exchange revealed this in an announcement on June 1, 2023.
The license signifies Crypto.com’s compliance with Singaporean regulations and solidifies its position as a trusted player in the digital asset market of the country.
This MPI license is the latest addition to Crypto.com’s growing portfolio of regulatory licenses across the globe. The company has already obtained registration as a cryptoasset firm from the UK Financial Conduct Authority (FCA) and as a Digital Asset Service Provider (DASP) from the French Autorité des marchés financiers (AMF). Furthermore, Crypto.com has successfully registered under South Korea’s Electronic Financial Transaction Act and has been granted the MVP Preparatory License by the Dubai Virtual Assets Regulatory Authority (VARA).
The commitment of Crypto.com to compliance is further exemplified by its registrations with regulatory bodies in Greece, Italy, and Cyprus. The Hellenic Capital Market Commission, Organismo Agenti e Mediatori (OAM), and Cyprus’s Securities and Exchange Commission have all recognized and registered Crypto.com.
Crypto.com has also been busy improving its offerings to serve its customers. To cater to its user base in the United States, Crypto.com recently introduced a new feature that enables users to make purchases using over 30 different cryptocurrencies through its app. The feature was launched on May 31, 2023, and it is expected to provide users with the convenience of utilizing cryptocurrencies for everyday purchases while enjoying a wide selection of products from popular brands.
In addition, Crypto.com announced the introduction of ‘Amy,’ an AI-powered assistant designed to provide customers with information about the cryptocurrency market. Amy was developed using ChatGPT, and it was designed to enhance the user experience on the platform by simplifying access to cryptocurrency-related information and making it easily available to users.
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