TechFlow news — On October 16, according to Cointelegraph, Upbit's Singapore subsidiary announced it has received in-principle approval for Singapore’s Major Payment Institution (MPI) license, allowing it to continue providing digital payment token services to institutional investors while awaiting full licensing.
Upbit Singapore's founder and CEO Alex Kim stated in a press release that although the company was established in 2018, this recent approval holds strategic significance for deepening its local operations. If Upbit receives full approval, it will join the ranks of 15 cryptocurrency firms licensed by the Monetary Authority of Singapore (MAS) to offer comprehensive MPI digital payment token services.
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