Cryptocurrency payments company TripleA has been granted a Digital Payment Token license by the Monetary Authority of Singapore (MAS).
The license allows TripleA to provide end-to-end cryptocurrency payment services for businesses.
This includes crypto payments, payouts, remittances, and white-label trading in the following license categories; Digital Payment Token Services, Domestic Money Transfer Services, Cross-Border Money Transfer Services, and Merchant Acquisition Services.
With the prior license exemption provided under the Payment Services Act, TripleA said that it had demonstrated its capabilities as a trusted provider complying with MAS regulations to receive the full license.
Now with the crypto license, TripleA said that it would be able to accelerate its efforts in reaching largely untapped markets to facilitate crypto payments between businesses and people globally.
MAS has so far granted three full licenses to Australian cryptocurrency exchange Independent Reserve, DBS Vickers which is the brokerage arm of DBS Bank, and QR code payment solution provider FOMO Pay.
The regulator had also issued an in-principle approval to cryptocurrency platform Coinhako recently.
Eric Barbier
“We are elated by the news of being licensed by MAS. Singapore is one of the countries that openly support blockchain projects and cryptocurrencies.
Being granted a crypto license allows us to expand cryptocurrency access to more residents and also strengthen our positioning as a trusted and reliable crypto payments partner for businesses worldwide,”
said Eric Barbier, CEO of TripleA.
Featured image: Edited from Unsplash
