QCP Trading Pte. Ltd. received an In-Principle Approval (IPA) for a Major Payment Institution (MPI) License from the Monetary Authority of Singapore (MAS).
The IPA represents a step toward “full” licensing, allowing QCP Trading to prepare to offer regulated spot trading services for digital payment tokens.
The IPA reinforces QCP Trading’s dedication to Singapore’s regulatory standards, marking a step towards the goal of providing compliant solutions for clients.
QCP Trading intends to offer spot trading for a range of stablecoins and digital tokens supported by its on/off ramping services in various currencies.
Leveraging 24/7 support, API integration, voice trading capabilities and same-day settlement via its banking partners, QCP Trading aims to build a spot franchise and position itself as one of the “price-competitive” service providers in the digital asset space.
Darius Sit, Founder of QCP Trading said that this milestone for QCP Trading reinforces our belief in the importance of a “strong regulatory foundation for sustainable growth and positioning themselves to be a trusted partner of choice in the digital asset space.”
Melvin Deng, Chief Executive Officer of QCP Trading that they reaffirm our dedication to fostering strong partnerships in Singapore and look forward to working closely “with the MAS to achieve the MPI license.”
With Singapore at the center of its strategy, QCP Trading aims to grow the team, prioritizing the recruitment of talent to facilitate its growth and ensure adherence to regulations.
QCP Trading is delivering solutions in digital assets spot trading, positioning itself as a partner in Asia and other areas.
QCP Trading is the OTC spot trading arm of QCP Group, offering institutional clients with efficient spot trading solutions.
QCP Trading offers an array of services: on/off ramping, API integration, and personalized voice trading channels.
QCP Trading received the IPA from MAS for an MPI License in order to offer digital payment token services for OTC spot trading in Singapore.
