Singapore regulatory body, The Monetary Authority of Singapore (MAS) has approved three more crypto exchanges for payments in the country.
The top exchanges approved by Singapore to offer crypto payment services in the country are Crypto.com, Genesis, and Sparrow.
Deputy Prime Minister of Singapore, Heng Swee Keat, made it known that three additional digital payment token service license applicants had received in-principle approval. This has brought the number of payment services in the country to 14.
In his words, ”There are many other good use cases within the broader digital asset ecosystem. We should therefore take the same approach as earlier tech waves,” he said.
“Singapore remains keen to work with blockchain and digital asset players.” he added.
The Major Payment Institution License enables companies to offer a range of payment services, including offering customers in Singapore cryptocurrency services or digital payment token.
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