The Monetary Authority of Singapore issues 33 DPT licenses to create an Asia-Pacific encryption hub.

The Monetary Authority of Singapore has issued "Digital Payment Token Services (DPT)" Major Payment Institution Licenses to 33 entities, which are involved in four key areas: exchange and Wallet services, custody and Compliance infrastructure, payment acquiring, as well as banking and brokerage operations.

Among the licensed institutions are several well-known enterprises, covering various aspects of the cryptocurrency ecosystem. The issuance of this series of licenses marks a significant advancement in cryptocurrency regulation in Singapore, laying the foundation for the establishment of a compliant and innovative crypto ecosystem in the country.

With the clarification of the regulatory environment, Singapore's cryptocurrency ecosystem is gradually taking shape. This compliance-oriented development model is attracting funds and institutions from the region to accelerate their influx. Singapore is gradually becoming an important hub for cryptocurrency and blockchain technology in the Asia-Pacific region.

This initiative not only helps enhance the competitiveness of Singapore's fintech industry but also provides valuable references for the standardized development of the global cryptocurrency industry. With more institutions obtaining licenses, Singapore's cryptocurrency market is expected to welcome more innovation and development opportunities.