South Korean leading crypto exchange Upbit has received an in-principle approval from the Monetary Authority of Singapore to offer digital payment token services in the city state, according to a company statement.
(Bloomberg) — South Korean leading crypto exchange Upbit has received an in-principle approval from the Monetary Authority of Singapore to offer digital payment token services in the city state, according to a company statement.
- Singapore, a financial hub in Asia, will allow Upbit to offer its services in “retail, institutional, and infrastructure focused businesses,” Alex Kim, founder and CEO of Upbit Singapore, said in the statement
- Upbit Singapore is a wholly-owned subsidiary of Upbit APAC — a holding company that also operates regulated digital asset exchanges in Thailand and Indonesia: statement
- NOTE: The MAS grants a full license subject to meeting certain conditions following the IPA
–With assistance from Hooyeon Kim.
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