Swiss-Singapore crypto bank Sygnum has been granted the Major Payment Institution Licence (MPIL) by the Monetary Authority of Singapore (MAS), expanding its digital finance services. Discover how this licence allows Sygnum to operate a licensed brokerage platform for accredited investors and institutions.
Swiss-Singapore crypto bank, Sygnum, has secured the Major Payment Institution Licence (MPIL) from the Monetary Authority of Singapore (MAS), a significant milestone in its regulated journey. With this licence, Sygnum launches its Digital Payment Token (DPT) brokerage service, catering to accredited investors, family offices, banks, and investment firms. This platform offers competitive spreads, robust liquidity, and swift trade settlements for a diverse range of cryptocurrencies.
Sygnum, founded in 2018, now manages over 3.2 billion Swiss francs (US$3.48 million) in assets and serves clients in 60 countries, including institutional investors, financial institutions, and DLT foundations. The MPIL complements Sygnum’s existing licenses, enabling it to provide a comprehensive suite of digital asset financial services, from asset management to custodial services. Sygnum’s CEO Singapore, Gerald Goh, praised MAS for its progressive stance on digital assets, expecting it to boost investor confidence in the digital asset market.
Tags: Sygnum, Major Payment Institution Licence, MAS, Digital Payment Token, cryptocurrency, digital finance, accredited investors, institutional investors
Focus Keyword: Major Payment Institution Licence