MAS Grants In-Principle Approval to Moomoo Singapore for Crypto Payments

Digital brokerage Moomoo Monetary Singapore has secured in-principle approval from the Financial Authority of Singapore (MAS) for a Main Fee Establishment License to supply digital cost token (DPT) companies.

This approval allows Moomoo Singapore to increase digital cost token companies to each retail and institutional buyers within the area, pending the acquisition of a full license.

Moomoo claims to be the primary digital brokerage in Singapore to obtain in-principle approval for DPT companies.

Gavin Chia

“It is a vital milestone for us and can pave the way in which for us to introduce digital cost token service on our platform. We are going to work carefully with MAS to safe approval for a full license quickly. Through the years, now we have seen a rise in quantity of queries from our purchasers with regard to the buying and selling of digital cost tokens on our platform.

 

We’ve heard you and have labored laborious to fulfil the regulatory necessities from MAS. We thank our purchasers for his or her endurance and we sit up for increasing our suite of choices to them,”

stated Gavin Chia, CEO, Moomoo Singapore.

Featured picture credit score: Edited from Freepik

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