Upbit Singapore Secures Major Payment Institution License from Monetary Authority of Singapore

Upbit Singapore, a subsidiary of South Korea’s leading crypto exchange Upbit, has announced the acquisition of a Major Payment Institution License from the Monetary Authority of Singapore (MAS). This achievement follows the in-principle approval received in October 2023, positioning Upbit Singapore among the few fully licensed exchanges adhering to Singapore’s stringent regulatory standards. The Major Payment Institution License adds to Upbit APAC’s portfolio, a prominent global digital asset group, which already operates regulated exchanges in Singapore, Indonesia, and Thailand, along with managing VerifyVASP, a globally recognized Travel Rule solution provider.(Source: Cryptonews)