First Singapore non-bank crypto exchange receives in-principle approval from MAS to provide digital payment token (DPT) services

25 Nov 2021

WongPartnership congratulates Coinhako for being the first local non-bank crypto exchange to receive an in-principle approval from the Monetary Authority of Singapore (MAS) to provide digital payment token services under the Payment Services Act (PSA).

We act for Coinhako in various corporate matters and in its application to the MAS for a Payment Services Act licence to operate a cryptocurrency exchange in Singapore.

Partners involved in this deal include our Financial Services Regulatory Practice Partner Tian Sion Yoong, together with Mergers & Acquisitions Practice Partner Ong Sin Wei and Intellectual Property, Technology and Data Group Partner Kylie Peh.

For more information on this area of law, reach out to our Partners here.

First Singapore non-bank crypto exchange receives in-principle approval from MAS to provide digital payment token (DPT) services

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