1 year ago
Circle Singapore has present received its Major Payment Institution (MPI) licence for integer outgo token services successful Singapore, aft having obtained in-principle support last November.
The licence issued by the Monetary Authority of Singapore (MAS) allows Circle Singapore to connection integer outgo token services, cross-border wealth transportation services and home wealth transportation services successful the city-state, the steadfast announced connected Wednesday.
Circle Singapore is an affiliate of Circle Internet Financial, which is the issuer of USDC, the second-largest stablecoin by marketplace cap.
The MAS proposed stablecoin rules past year which acceptable superior and reserve requirements for issuers. They besides question to prohibition users from activities similar lending and staking, which lets users fastener crypto to gain interest.
Edited by Parikshit Mishra.
English (US) 