The Monetary Authority of Singapore has granted Blockchain.com a payment license, enabling it to offer regulated digital payment token services.
Blockchain.com has received a license to make large payments
The Monetary Authority of Singapore has granted Blockchain.com a payment license, enabling it to offer regulated digital payment token services to its international institutional and accredited investor clients.
The central bank has already given the license in-principle permission before the license was published on August 1.
The license is a component of Blockchain.com's expansion in Asia, and the business claims it enables it to keep growing its presence there.
The Monetary Authority of Singapore announced a fintech and innovation programme with funding of S$150 million over three years that includes a track to support web 3 technology. Recently, Singapore's High Court ruled that crypto assets are things in action and capable of being held on trust.
In June, MAS and the Bank for International Settlements jointly released a paper on a framework for tokenization and institutional-grade DeFi protocols.
