MAS grants major payment institution licence to Sygnum Singapore

The licence allows Sygnum Singapore to activate the launch of its regulated Digital Payment Token brokerage service in the country

Sygnum Singapore has received the approval for its Major Payment Institution licence from the Monetary Authority of Singapore.

The Swiss digital asset technology group was founded in 2018, with over CHF3.2 billion ($4.79 billion) assets under management to date. Its clients include institutional and accredited investors, banks and financial institutions, as well as distributed ledger technology foundations.

The licence allows Sygnum Singapore to activate the launch of its regulated Digital Payment Token brokerage service in the country. Featuring a seamless fiat-digital asset gateway and trade execution for a range of cryptocurrencies, the platform offers competitive spreads, deep liquidity and fast trade settlements in addition to live balance updates and quotes.

Sygnum Singapore already holds the Capital Markets Services licence, which it received in 2019.

 

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