Zurich-headquartered Sygnum has received approval from the Monetary Authority of Singapore to commence regulated crypto services in the city-state.
Sygnum has received an in-principal approval for a major payment institution license (MPIL) from the Monetary Authority of Singapore (MAS), according to a statement.
The license will activate the Singtel-backed firm's regulated crypto brokerage service in Singapore which follows a three-part capital markets license (CSML) extension granted in 2022.
Crypto Offering
Synum’s platform features a fiat-digital gateway and trade execution for a range of cryptocurrencies with live balance updates, quotes and a choice of trading and vault wallets. Its clients are also assigned a dedicated relationship manager to provide personal services and support.
«This in-principle approval of our [MPIL] by the MAS is a milestone in our strategic growth plans for Sygnum Singapore and Southeast Asia,» said Sygnum co-Founder and CEO Singapore Gerald Goh.
Robust Regulatory Framework
«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.»
