Leading South Korean crypto exchange Upbit has been granted regulatory approval by Singapore’s main financial regulator. The authorization will allow the trading platform to provide regulated services in the Southeast Asian city-state which has established itself as a crypto hub.
Upbit Singapore Gets In-Principle Approval for Major Payment Institution License
The Singapore subsidiary of cryptocurrency exchange Upbit, one of South Korea’s four largest digital asset exchanges, has received a regulatory approval from the Monetary Authority of Singapore (MAS), the island nation’s central banking institution.
Upbit Singapore Secures In-Principle Approval from the MAS
We are pleased to announce that the Monetary Authority of Singapore (MAS) has granted an in-principle approval (IPA) for a Major Payment Institution (MPI) licence to Upbit Singapore Pte. Ltd. pic.twitter.com/AFC3IDBz6j
— Upbit Global (@upbitglobal) October 16, 2023
The in-principle approval enables Upbit Singapore to c
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