Sygnum Singapore Obtains In-Principle Approval of Major Payment Institution License from MAS

Sygnum announces the upcoming expansion of its regulated operations in Singapore following the in-principle approval of its Major Payment Institution Licence (MPIL) application.

The expanded Singapore offering includes regulated crypto brokerage service.

It marks the latest expansion of Sygnum Singapore’s regulated activities “following the three-part Capital Markets Licence (CMSL) extension granted in 2022.”

Sygnum Singapore further “leverages the group’s regulated banking infrastructure, product portfolio and digital asset technology expertise.”

This update now “strengthens Sygnum’s market position as a digital asset service provider in Singapore and South-East Asia.”

The MPIL will “activate the launch of Sygnum Singapore’s regulated crypto brokerage service.”

The platform, featuring “a seamless fiat-digital asset gateway and trade execution for a range of cryptocurrencies, offers competitive spreads, deep liquidity and fast trade settlements in addition to live balance updates and quotes and a choice of trading and vault wallets.”

All Sygnum clients are “assigned a dedicated Relationship Manager to provide personal service and support.” It is through these partnerships that clients “will be able to conveniently access and benefit from Sygnum’s expanded regulated services.”

Gerald Goh, Sygnum Co-Founder and CEO Singapore, says:

“This in-principle approval of our Major Payment Institution Licence by the MAS is a milestone in our strategic growth plans for Sygnum Singapore and South-East Asia. Like Switzerland, Singapore has a progressive, robust regulatory framework that provides investors the clarity and confidence to invest in digital assets – and Future Finance – with complete trust.”

The in-principle approval of Sygnum’s MPIL application “further strengthens Sygnum’s position as a leading regulated digital asset service provider in Singapore and across the region. Sygnum Singapore’s early mover market position was established in 2019 with its first CMSL.”

This pioneering reputation was “underlined by the three-part CMSL extension granted in 2022 that saw the launch of corporate finance advisory, capital market products and asset and security token custodial services.”

As noted in the update, Sygnum claims it is “the world’s first digital asset bank, founded on Swiss and Singapore heritage.”

They empower professional and institutional investors, banks, corporates and DLT foundations to invest “in the digital asset economy with complete trust.”

Their team enables this “via personal, expert service and secure, convenient access to our integrated portfolio of crypto banking, asset management, tokenisation and B2B banking services.”

Sygnum is “a licensed Swiss bank and is also regulated in the established global financial hubs of Singapore, Abu Dhabi and Luxembourg.”

They believe that the future has heritage. Their diverse crypto-native team of banking, investment and digital asset technology professionals are “building a trusted, regulated bridge between the traditional and digital asset economies that they call Future Finance.”

Sponsored Links by DQ Promote



Send this to a friend