EddieJayonCrypto

 18 Mar 25

tl;dr

Cumberland SG, the Asia subsidiary of U.S.-based crypto trading firm Cumberland, has received in-principle approval for a Major Payment Institution license from the Monetary Authority of Singapore (MAS). This marks a step for the firm to expand its presence in Singapore's digital assets market. Once...

Cumberland SG, the Asia subsidiary of U.S.-based crypto trading firm Cumberland, has received in-principle approval for a Major Payment Institution license from the Monetary Authority of Singapore (MAS). This signifies an expansion in Singapore's digital assets market and reflects the growing trend of crypto firms seeking regulatory approval in the Asia-Pacific region.


Once fully granted, the license would enable Cumberland to provide regulated digital payment token services in Singapore, showcasing MAS's confidence in the firm's compliance commitment and reinforcing Singapore's position as a global digital asset hub. With MAS having issued a total of 29 digital payment token licenses, including major players like Coinbase, BitGo, and Anchorage, this approval adds to the list of crypto firms solidifying their position in institutional digital asset trading in the Asia-Pacific region.

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 17 Jun 25
 17 Jun 25
 17 Jun 25