The global cryptocurrency landscape continues to evolve, with regulatory clarity becoming a cornerstone of sustainable growth. In a significant development for the digital asset industry in Southeast Asia, Crypto.com has officially obtained its Major Payment Institution (MPI) licence for Digital Payment Token (DPT) services from the Monetary Authority of Singapore (MAS). This milestone not only reinforces the platform's compliance-first approach but also strengthens Singapore’s position as a leading hub for blockchain and fintech innovation.
A Strategic Regulatory Achievement
The MPI licence, granted under Singapore’s Payment Services Act, authorizes Crypto.com to legally offer digital payment token services—including cryptocurrency trading, custody, and transfers—to customers in one of Asia’s most financially advanced markets. This final approval follows the company’s in-principle approval from MAS in June 2022, marking over a year of rigorous compliance assessments, operational audits, and risk management evaluations.
Regulatory licensing is more than a formality—it’s a testament to a company’s commitment to security, transparency, and consumer protection. For users in Singapore, this means greater confidence in using Crypto.com’s platform, knowing it operates under the strict oversight of one of the world’s most respected financial regulators.
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Why the MAS Licence Matters
The Monetary Authority of Singapore has long been recognized as a forward-thinking yet cautious regulator. Its balanced approach encourages innovation while ensuring financial stability and anti-money laundering (AML) compliance. By securing the MPI licence, Crypto.com demonstrates:
- Robust compliance infrastructure: The ability to meet stringent KYC (Know Your Customer), AML, and cybersecurity standards.
- Market credibility: Enhanced trust among institutional and retail investors alike.
- Operational scalability: A solid foundation to expand services tailored to Singaporean users.
Kris Marszalek, CEO of Crypto.com, emphasized the significance:
“The Monetary Authority of Singapore is recognized globally as a regulator that ensures responsible innovation of the digital assets sector. We are proud to receive the licence from a regulator that prioritizes consumer protection, safety, and security. We look forward to continuing to collaborate with MAS and leading at the forefront of crypto in our home market of Singapore.”
Strengthening Singapore’s Web3 Ecosystem
Singapore has consistently ranked among the top jurisdictions supporting blockchain innovation. With supportive policies, clear regulatory frameworks, and strong government-backed initiatives, the city-state has become a magnet for Web3 startups, exchanges, and investment firms.
Chin Tah Ang, General Manager of Crypto.com Singapore, highlighted the broader impact:
“Singapore continues to be a hub for blockchain and fintech innovation. The Major Payment Institution licence underscores our ongoing commitment to build with the Web3 community in Singapore.”
This licence enables Crypto.com to deepen its engagement with local developers, entrepreneurs, and financial institutions—fostering partnerships that drive real-world use cases for blockchain technology, from decentralized finance (DeFi) to tokenized assets and digital identity solutions.
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Global Regulatory Momentum
Crypto.com’s achievement in Singapore is part of a broader global strategy focused on regulatory alignment. The company has secured or registered for licences and approvals across multiple key markets, including:
- France: Registered as a Digital Asset Service Provider (DASP) with the Autorité des marchés financiers (AMF)
- United Kingdom: Registration approved with the Financial Conduct Authority (FCA) as a cryptoasset business
- Australia: Registered as a Digital Currency Exchange Provider and Independent Remittance Dealer with AUSTRAC; holds Australian Financial Services and Credit Licences from ASIC
- South Korea: Compliant under the Electronic Financial Transaction Act and registered as a Virtual Asset Service Provider
- Italy, Greece, Cyprus: National-level registrations with financial regulators
- Dubai: Approval of MVP Preparatory Licence from VARA
- United States: Designation as a CFTC-regulated Derivatives Clearing Organization (DCO) with two Designated Contract Markets (DCMs)
- Canada: Pre-registration undertaking with the Ontario Securities Commission and Canada Securities Administrators
This extensive footprint highlights Crypto.com’s proactive stance on compliance—positioning it as a trusted player in an increasingly regulated industry.
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Frequently Asked Questions (FAQ)
What is a Major Payment Institution (MPI) licence in Singapore?
The MPI licence is issued by the Monetary Authority of Singapore under the Payment Services Act. It allows companies to provide digital payment token services, e-money issuance, cross-border money transfers, and more. It requires strict adherence to AML, CFT (Combating the Financing of Terrorism), and consumer protection regulations.
Does the MAS licence allow Crypto.com to operate fully in Singapore?
Yes. With full MPI approval for DPT services, Crypto.com can legally offer cryptocurrency trading, custody, and transfer services to individuals and businesses in Singapore, under ongoing MAS supervision.
Why is regulatory compliance important for crypto platforms?
Compliance ensures user protection, financial integrity, and long-term sustainability. Licensed platforms undergo regular audits, maintain reserve requirements, and implement advanced security protocols—reducing risks of fraud, theft, and systemic failures.
How does this benefit Crypto.com users in Singapore?
Users gain access to a regulated, transparent, and secure platform. They can transact with confidence knowing their assets are protected under national financial regulations and that the platform meets international compliance standards.
Is Crypto.com the only exchange with an MPI licence?
No. Several other major crypto platforms—including Paxos, Sygnum Bank, and Coinbase—also hold MPI licences from MAS. However, obtaining one remains a significant achievement due to rigorous requirements.
What’s next for Crypto.com in Asia?
With strong compliance foundations in Singapore, Crypto.com is well-positioned to expand into other ASEAN markets, launch localized products, and support regional Web3 development through grants, education programs, and strategic partnerships.
Building the Future of Digital Finance
Founded in 2016, Crypto.com serves over 80 million customers worldwide and has established itself as an industry leader in security, privacy, and regulatory compliance. Its vision—Cryptocurrency in Every Wallet™—is being realized through continuous innovation, strategic licensing, and community empowerment.
As governments worldwide refine their digital asset policies, companies like Crypto.com set the standard for responsible growth. By aligning with regulators like MAS, they help bridge traditional finance with the decentralized future—ensuring that cryptocurrency adoption is not only rapid but also safe and inclusive.
The road ahead includes deeper integration with financial systems, broader institutional participation, and wider public access to blockchain-based services. With its latest regulatory win in Singapore, Crypto.com isn’t just following the rules—it’s helping write them.