Pacific

Coin

<ul class="news-points"> 
 <li>Upbit receives an in-principle approval for a Major Payment Institution from Singapore.</li> 
 <li>The license will allow the exchange to provide crypto payment services within the Singaporean market.</li> 
 <li>Ripple previously secured the Major Payment Institution but won full approval four months later.</li> 
</ul> 
Upbit, a prominent South Korean <a href="https://coinedition.com/what-is-a-cryptocurrency-exchange-how-does-it-work/">crypto exchange</a>, has secured one of the most sought-after regulatory clearances in the Asia Pacific (APAC). In particular, Upbit has been granted an in-principle approval (IPA) for a Major Payment Institution (MPI) from the Monetary Authority of Singapore (MAS). 
Notably, this significant nod from MAS opens doors for Upbit to extend its offerings across a broad spectrum, including retail, institutional, and infrastructure-focused businesses. According to the official notification, the license will allow the exchange to provide crypto payment services within the Singaporean market. 
Furthermore, Alex Kim, the founder and CEO of Upbit Singapore, affirmed that this approval marks a pivotal moment for the company, enabling it to deliver crypto services to a wide range of clientele. Kim remarked: 
<blockquote class="wp-block-quote"> 
 This approval from MAS is a strategic milestone fo…
</blockquote>
The post <a rel="nofollow" href="https://coinedition.com/like-ripple-upbit-secures-crypto-business-approval-from-singapore/">Like Ripple, Upbit Secures Crypto Business Approval From Singapore</a> appeared first on <a rel="nofollow" href="https://coinedition.com">Coin Edition</a>.

Like Ripple, Upbit Secures Crypto Business Approval From Singapore

Coin Edition

Other articles published on Oct 16, 2023

Here’s Why Crypto Prices Are Pumping as Bitcoin, Solana, and Meme Kombat See Significant Gains

Singapore and US Forge AI Governance Alliance for Responsible Innovation

Wise Traders Transition from Chainlink (LINK) and Cosmos (ATOM) to VC Spectra (SPCT)

JUST IN: Binance Will Stop Accepting New User Registrations in the UK Starting Today

FTX Bankruptcy Estate Stakes Huge Crypto Assets Amid Ongoing Trial!

SEC Compliance News Sends BOND Token Soaring – Here's What Happened

Join our free newsletter for daily crypto updates!