South Korean crypto exchange Upbit wins Singapore permit

Singapore will allow Upbit to offer its services in “retail, institutional, and infrastructure focused businesses”

Reportedly, Upbit Singapore is a wholly-owned subsidiary of Upbit APAC
Reportedly, Upbit Singapore is a wholly-owned subsidiary of Upbit APAC

South Korean leading crypto exchange Upbit has received an in-principle approval from the Monetary Authority of Singapore to offer digital payment token services in the city state, according to a company statement.

Singapore, a financial hub in Asia, will allow Upbit to offer its services in “retail, institutional, and infrastructure focused businesses,” Alex Kim, founder and CEO of Upbit Singapore, said in the statement

> Upbit Singapore is a wholly-owned subsidiary of Upbit APAC — a holding company that also operates regulated digital asset exchanges in Thailand and Indonesia: statement

NOTE: The MAS grants a full license subject to meeting certain conditions following the IPA

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This article was first uploaded on October sixteen, twenty twenty-three, at forty-five minutes past three in the afternoon.
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