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Sygnum receives in-principle approval of MPIL from MAS

By Leandra Monteiro

June 14, 2023

  • CMSL
  • Crypto Brokerage
  • Fiat
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SygnumSygnum announced the upcoming expansion of its regulated operations in Singapore following the in-principle approval of its Major Payment Institution Licence (MPIL) application.

The MPIL will activate the launch of Sygnum Singapore’s regulated crypto brokerage service. The platform, featuring a seamless fiat-digital asset gateway and trade execution for a range of cryptocurrencies, offers competitive spreads, deep liquidity and fast trade settlements in addition to live balance updates and quotes and a choice of trading and vault wallets.

Gerald Goh, Sygnum Co-Founder and CEO Singapore said, “This in-principle approval of our Major Payment Institution Licence by the MAS is a milestone in our strategic growth plans for Sygnum Singapore and South-East Asia. Like Switzerland, Singapore has a progressive, robust regulatory framework that provides investors the clarity and confidence to invest in digital assets – and Future Finance – with complete trust.”

The in-principle approval of Sygnum’s MPIL application further strengthens Sygnum’s position as a regulated digital asset service provider in Singapore and across the region. Sygnum Singapore’s early mover market position was established in 2019 with its first CMSL. This pioneering reputation was underlined by the three-part CMSL extension granted in 2022 that saw the launch of corporate finance advisory, capital market products and asset and security token custodial services.

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