Singapore issued 89 cryptocurrency payment licenses to notify Binance, Coinbase, etc.

The spokesperson of the Singapore Financial Supervisory Authority (MAS) once again revealed to the “Blockchain Daily” reporter that a notice has been issued to 89 companies that have applied for DPT. If the applicant takes necessary measures to meet the requirements of MAS for licensed operations, then Later, you will receive the license granted by the MAS to the applicant.

Text | Xu Cihao Li Honghui

On August 5, the “Blockchain Daily” exclusively interviewed the Financial Supervisory Authority of Singapore (MAS). According to a spokesperson of the agency, 170 applications for digital payment token (DPT) licenses have been received, 30 of which have been Withdrawn, 2 were rejected. It also stated that MAS will continue to review outstanding DPT applications.

Today, the spokesperson of the Singapore Financial Supervisory Authority (MAS) once again revealed to the “Blockchain Daily” reporter that at present, 89 companies applying for DPT have been notified if the applicant takes necessary measures to meet MAS’ requirements for licensed operations , Then will receive the license granted by MAS to the applicant.

The spokesperson further disclosed the detailed list of 89 companies to the “Blockchain Daily” (see the end of the article). These include well-known cryptocurrency exchanges such as BINANCE ASIA SERVICES PTE. LTD, Coinbase Singapore PTE. LTD (COINBASE SINGAPORE PTE. LTD), OKCoin Pte. Ltd. (OKCOIN PTE. LTD) and so on.

As for the two companies that were rejected? The spokesperson said that the bureau could not disclose the companies that were rejected.

In January 2020, Singapore’s “Payment Services Act” (PSA) came into effect. All DPT service providers operating in Singapore, including crypto exchanges, must register and obtain licenses. The new “Payment Services Act” expands the scope of supervision of MAS, including digital payment token services and other new payment services, screening its customer protection mechanisms, transaction and compliance structures, etc., to ensure that payment companies comply with anti-money laundering (AML) And counter-terrorism financing (CFT) requirements.

The Payment Services Act also clarified the license for digital tokens for the first time. Depending on the nature and scope of the service, payment service providers need to apply for a “currency exchange” license, a “standard payment institution” license, and a major payment institution license based on their own circumstances. According to the Act, the eligibility requirement for permit applications is that at least one of the company’s directors is a Singaporean or a permanent resident living in Singapore.

In addition, when applying for a “large payment institution” license, the exchange needs to comply with anti-money laundering standards; and meet the basic requirements of MAS for technical security, including platform technology risk management system, user authentication, data encryption, prevention of server attacks, etc.; in addition, , Should also be prepared to accept regular spot checks by MAS; avoid illegal operations, so as to avoid punishments such as revocation of licenses.

In addition to the compliance requirements discussed above, when it comes to trading security tokens, the exchange also needs to obtain a certified capital market operator (RMO) license before it can conduct related businesses.

The Financial Supervisory Authority of Singapore has issued a notice to 89 DPT applicants. The following is a detailed list:

AAX EXCHANGE (MALTA) LIMITED, SINGAPORE BRANCH

ACTOZ LABS PTE. LTD

ALPHABIT CONSULTING PTE. LTD

ALPHANONCE PTE. LTD

ALTONOMY PTE. LTD

AMAZINGTECH PTE LTD

ANDURIL PTE. LTD

APIFINY ASIA PTE. LTD

BHOP CONSULTING PTE. LTD

BINANCE ASIA SERVICES PTE. LTD

BITDATA DIGITAL TECH PTE LTD

BITSTAMP LIMITED

BITTOK TECHNOLOGY PTE LTD

BLOCKCHAIN MASTERY LAB LLP

BLUE CITY SOLUTIONS PTE LTD

BMXDM TECHNOLOGY PTE. LTD

BSQUARED TECHNOLOGY PTE. LTD

BYTE POWER X SINGAPORE PTE LTD

CAKE PTE. LTD

CHYNGE SINGAPORE PTE. LTD

COCO WEB PTE LTD

COINBASE SINGAPORE PTE. LTD

COINCOLA SINGAPORE PTE. LTD

COINUT PTE. LTD

CUMBERLAND SG PTE. LTD

CYBERDYNE TECH SERVICES PTE LTD

DACXI EXCHANGE PTE LTD

DAENERYS & CO PTE LTD

DEODI PTE. LTD

DEXSTAR SERVICES PTE. LTD

DIGIFINEX PTE LTD

DIGINEX CAPITAL PTE LTD

DIGITAL TREASURES CENTER PTE. LTD

DS SOLUTIONS PTE. LTD

ECXX GLOBAL PTE. LTD

ECXX GLOBAL PTE. LTD

FINXFLO – FEARLESS LEGENDS PTE LTD

FLY WING TECHNOLOGIES PTE. LTD

FOMO PAY PTE. LTD

FOREIGN DAX Asia Pte. Ltd.

GBEX HOLDINGS PTE. LTD

GEMINI TRUST COMPANY, LLC

GENESIS ASIA PACIFIC PTE. LTD

GENIE TECHNOLOGIES PTE LTD

GOLDFINX PTE. LTD

GRAVITAS INTERNATIONAL ASSOCIATES PTE LTD

GSR MARKETS PTE. LTD

HAKO TECHNOLOGY PTE. LTD

HASHKEY HUB PTE. LTD

HASHKEY TECHNOLOGY SERVICES PTE. LTD

HODLNAUT PTE LTD

INDEPENDENT RESERVE SG PTE LTD

INTELLECT MARKET PTE LTD

JST DIGITAL TRADING & TECHNOLOGY PTE. LTD

Commissioner global private limited

LIONEX PTE LTD

LUNO PTE. LTD

MOON PAY LIMITED

NET MARKETING SERVICES

NOGLE (SINGAPORE) PTE. LTD

OKCOIN PTE. LTD

ONCHAIN CUSTODIAN PTE LTD

OSL SG PTE LTD

PAXOS GLOBAL PTE. LTD

PAYCOME PTE. LTD

PIONEX PTE LTD

PRIMESTACK PTE. LTD

PUNDI X LABS. PTE. LTD

QCP CAPITAL PTE. LTD

QUANTUM XTREME PTE. LTD

QUOINE PTE. LTD

RDMCHAIN PTE. LTD

RIO TECHNOLOGIES PTE LTD

RIPPLE LABS SINGAPORE PTE. LTD

SFOX PTE LTD

SHUTTLE ONE PTE LTD

SILVERAG PTE LTD

SOURCED (PRIVATE LIMITED)

SPACETRAVEL PTE. LTD

SPARROW TECH PRIVATE LIMITED

SUPER-X TECH PTE LTD

TAI MO SHAN LIMITED SINGAPORE BRANCH

TDX SG PTE. LTD

TENX PTE. LTD

TRIPLE A TECHNOLOGIES PTE LTD

UPBIT SINGAPORE PTE LTD

WIREX PTE LTD

ZIPMEX PTE LTD

 

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/singapore-issued-89-cryptocurrency-payment-licenses-to-notify-binance-coinbase-etc/
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