On June 1, the company received a Master Payment Institution (MPI) license for digital payment token (DPT) services from the Monetary Authority of Singapore (MAS).
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“MAS is globally recognized as a regulator for responsible innovation in the digital asset sector. We are proud to be licensed by a regulatory agency that places a high priority on consumer protection, security, and safety,” Crypto.com CEO Kris Marszalek announced.
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The MAS license will allow the Crypto.com exchange to provide a full range of cryptocurrency services, including account opening and cross-border and domestic money transfers, to the citizens of the city-state.
In January, Crypto.com management announced it was laying off 20 percent of its staff due to negative market conditions caused by the FTX collapse.