Circle Obtained Major Payment Institution (MPI) License in Singapore
Jun 07,2023,06:32
Circle Internet Singapore Pte. Ltd. (Circle Singapore), an affiliate of Circle Internet Financial, LLC (Circle), has obtained a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS).
The license allows Circle Singapore to offer digital payment token services, alongside cross-border money transfer services and domestic money transfer services via its various products and services, including the Circle Account, which allows institutional customers access to USDC.
Circle Singapore officially opened its office in May 2023. Circle identified Singapore as its principal hub in Asia to service its growing business in the region.
