Stablecoin issuers Circle (USDC) and Paxos (USDP) have received approval for their licenses from the Monetary Authority of Singapore (MAS).
Stablecoin issuers Circle and Paxos have notified MAS that their respective license applications have been approved. MAS to Circle Major Payment Institution License approval in principle for Paxos digital payment tokens licensed to offer. It was noteworthy that companies received different licenses.
Circle said in a press release on its official website on Nov. 2 that it had in principle approved for the Large Payment Institution License. Thanks to this license, the company is in Singapore. digital payment tokens, cross-border and domestic transfer services, and next-generation financial services has the right to present.
On the other hand, in a press release published on its official website on the same date, Paxos digital payment token services announced that it has obtained a license to offer The company is legally local businesses and individual investors digital asset and blockchain products service can present.
Singapore is moving pretty fast in terms of digital assets and blockchain technology adoption. your country regulation and new uses He has many works on it.