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According to official news, QCP has announced that its over-the-counter spot trading arm, QCP Trading, has received approval in principle (IPA) for a Major Payments Institution (MPI) license issued by the Monetary Authority of Singapore (MAS). The IPA is an important step towards obtaining a full license, allowing QCP Trading to prepare for the provision of regulated digital payment token spot trading services.
HashKey Group's over the counter arm is the latest cryptocurrency company to receive a payment licence from the Monetary Authority of Singapore, introduced under the Payment Services Act 2019, which allows companies to offer "digital payment tokens" in Singapore. In February, HashKey received approval in principle for a major payments institution licence after operating under a regulatory exemption to provide spot trading, fiat currency entry and settlement services. HashKey Group...
