Circle is latest recipient of Major Payment Institution license in Singapore

Circle is latest recipient of Major Payment Institution license in Singapore



This month, the stablecoin issuer became the second crypto company to receive Singapore's MPI license, following Crypto.com. Circle Internet Singapore, an affiliate of Circle, has been granted a Major Payment Institution (MPI) license by the Monetary Authority of Singapore (MAS). In November, Circle Singapore received provisional approval for the MPI license from MAS and established its office in Singapore in May.



With the MPI license, Circle is authorized to offer digital payment token services, as well as domestic and cross-border money transfer services. This information was announced in a statement released by Circle, the fintech firm that issues stablecoins such as USD Coin (USDC) and Euro Coin (EUROC).



The statement emphasizes Singapore as Circle's primary hub in Asia, according to Circle's co-founder and CEO, Jeremy


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