Upbit Singapore, the Singapore subsidiary of South Korean crypto exchange Upbit, has just obtained a Major Payments Institution (MPI) license from the Monetary Authority of Singapore (MAS).
The cryptocurrency exchange has received the license less than three months after gaining in-principle approval from the regulator in October.
Alex Kim, founder and CEO of the company, has said:
"Upbit Singapore is poised to be the nexus of institutional activities, capitalizing on Singapore's robust regulatory framework and its reputation as a leading financial center in Asia."
Upbit APAC, Upbit Singapore's parent company, also operates platforms in Thailand and Indonesia.
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