Momentum

<p><strong>Circle has obtained a license to operate in Singapore, a beneficial step for both the crypto company and the region.</strong></p>
<h2 style="text-align: center;" id="major-payment-institution-license">Major Payment Institution License</h2>
<p>Circle Singapore, an affiliate of Circle Internet Financial, has <a href="https://www.circle.com/en/pressroom/circle-singapore-obtained-major-payment-institution-license" target="_blank" rel="noopener">obtained</a> a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS). This license allows Circle Singapore to provide digital payment token services, cross-border money transfer services, and domestic money transfer services in Singapore. Circle Singapore&#8217;s products and services, including the Circle Account, which gives institutional customers access to USDC, will be available in the city-state.</p>
<blockquote class="twitter-tweet">
<p dir="ltr" lang="en">We are honored and excited to share that Circle Singapore has obtained a Major Payment Institution (MPI) License from <a href="https://twitter.com/MAS_sg?ref_src=twsrc%5Etfw">@mas_sg</a>! <a href="https://t.co/RZSfeBZiqJ">https://t.co/RZSfeBZiqJ</a></p>
<p>Now, we can offer digital payment token services alongside cross-border and domestic money transfer services in Singapore and…</p>
<p>— Circle (@circle) <a href="https://twitter.com/circle/status/1666269080750309376?ref_src=twsrc%5Etfw">June 7, 2023</a></p></blockquote>
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p>
<h2 style="text-align: center;" id="reputation-as-a-responsible-financial-technology-company">Reputation as a Responsible Financial Technology Company</h2>
<p>The MPI license granted to Circle Singapore by MAS reflects the company&#8217;s <a href="https://walletinvestor.com/magazine/circle-reassured-crypto-holders-that-deposits-are-safe" target="_blank" rel="noopener">strong reputation</a> as a responsible digital financial technology company. It serves as a testament to Circle&#8217;s track record and contributions to the emerging global financial system based on the internet. This achievement solidifies Circle&#8217;s position as a trusted and well-regulated operator. The license marks a significant milestone for the future of regulated, transparent, and trusted dollar digital currencies in Singapore and the wider Asia region.</p>
<h2 style="text-align: center;" id="leveraging-expertise-for-innovation-and-value">Leveraging Expertise for Innovation and Value</h2>
<p>As a licensed entity, Circle Singapore can fully utilize the expertise of its corporate affiliates to drive innovation, expand offerings, and deliver greater value to clients and stakeholders. Regulated dollar digital currencies, such as USDC, are the foundation of a new generation of financial services that support the growth of responsible digital assets, blockchain, and web3 ecosystems.</p>
<h2 style="text-align: center;" id="commitment-to-singapore-8217-s-economy-and-technological-advancements">Commitment to Singapore&#8217;s Economy and Technological Advancements</h2>
<p>Circle recognizes Singapore&#8217;s importance in its global expansion and mission to raise global economic prosperity through frictionless value exchange. The company is honored to receive the MPI license from MAS and remains committed to advancing financial technology innovations in Singapore. Circle aims to uplift the emerging technology and fintech sector in the city-state while creating business and career opportunities for local technology and financial industry talent.</p>
<h2 style="text-align: center;" id="building-momentum-in-singapore">Building Momentum in Singapore</h2>
<p>Circle Singapore has been making significant strides in Singapore. The office was officially opened in May 2023, and prior to that, Circle Singapore collaborated with Tribe, a government-supported blockchain ecosystem builder, on a training and support program for Web3 developer talent. In November 2022, Circle Singapore received in-principle approval as a Major Payment Institution License holder from MAS, designating Singapore as its principal hub in Asia to cater to its growing business in the region.</p>
<h2 style="text-align: center;" id="conclusion">Conclusion</h2>
<p>The issuance of the MPI license to Circle Singapore highlights the progress and potential of regulated dollar digital currencies and financial infrastructure in Singapore. Circle&#8217;s commitment to responsible financial services innovation aligns with the city-state&#8217;s vision of becoming a hub for such advancements. With its USDC stablecoin and licensed operations, Circle aims to contribute to the future of finance in the region.</p>

Circle Singapore Obtains Major Payment Institution License

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WalletInvestor

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