QCP Trading Pte. Ltd., the over-the-counter (OTC) spot digital payment tokens (DPT) trading arm of QCP Group, is pleased to announce that it has been granted a Major Payment Institution (MPI) License by the Monetary Authority of Singapore (MAS).
The development enables QCP Trading to offer “regulated OTC spot trading services for DPT in one of the most progressive financial jurisdictions.”
The license follows QCP Trading’s In-Principle Approval (IPA) announced in November 2024.
With this license, QCP Trading is now “licensed to offer spot DPT trading services to institutional clients.”
The platform is supported by robust on/off ramping “in multiple currencies, dedicated voice trading, API connectivity, and same-day settlement through local banking partners.”
Darius Sit, Founder of QCP Group, said:
“The granting of the MPI license for our spot DPT trading arm reflects our … commitment to regulatory integrity and our mission to build the … institutional trading platform in digital assets. This milestone enables us to deepen our roots in Singapore’s financial ecosystem, while delivering compliant, and seamless services to clients across the region and globally.”
Melvin Deng, Chief Executive Officer of QCP Trading, said:
“Singapore continues to lead with forward-thinking digital asset regulation. Being licensed under MAS positions QCP Trading to meet the growing institutional demand for trusted DPT services.”
QCP Group is now actively expanding its local presence, “having increased its team size by 40% year on year, including hiring exceptional talent across compliance, operations, and client coverage.”
As noted in the update, QCP Trading is the OTC spot trading arm of QCP Group, “providing institutional clients with secure, compliant, and efficient spot trading solutions.”
QCP Trading offers an array of services such “as on/off ramping, seamless API integration, and personalized voice trading channels, ensuring a tailored trading experience with quick settlement times.”
Established in 2017, QCP Group is Asia’s digital asset partner, operating specialized entities “to address the dynamic needs of the digital economy.”
They provide solutions “across derivatives, spot trading, and structured products to institutional, professional, and accredited investors.”
Each QCP entity aims to bring knowledge and operational efficiency, supported by a team of professionals “in trading, business development, risk, and compliance.”
Headquartered in Singapore with an office in Abu Dhabi, QCP Group notes that it is committed to advancing “access and efficiency in digital asset markets.”