Singapore Grants Stablecoin Issuer Circle In-Principle License to Offer Payment Products & More Trending News

Singapore Grants Stablecoin Issuer Circle In-Principle License to Offer Payment Products & More Trending News

Stablecoin issuer Circle has acquired an in-principle license from the Monetary Authority of Singapore (MAS), permitting it to function as a funds firm within the nation.

Circle, which sought a Major Payments Institution License from the Singapore central financial institution, can now supply cross-border and home fee providers, in accordance to a press launch. The firm, which is behind the USDC stablecoin, may also supply token merchandise.

Dante Disparte, Circle’s chief technique officer and head of public coverage, stated in an announcement that the license will let the corporate “demonstrate the potential of digital currencies [and] open payment systems.”

The license will assist Circle’s world enlargement plans, stated CEO Jeremy Allaire in an announcement.

“We are honored to receive the in-principle license, and we look forward to more collaborations with MAS to support the thriving crypto and blockchain ecosystem as well as the advancement of fintech innovation in Singapore,” he stated.

Circle acquired its in-principle approval the identical day fellow stablecoin issuer Paxos acquired the same license from MAS.

Singapore Grants Stablecoin Issuer Circle In-Principle License to Offer Payment Products

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Singapore Grants Stablecoin Issuer Circle In-Principle License to Offer Payment Products

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Singapore Grants Stablecoin Issuer Circle In-Principle License to Offer Payment Products

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