Cumberland has secured a Major Payment Institution licence from Singapore’s central bank, allowing its local unit to offer regulated digital payment token and cross-border money transfer services.
Summary
- Cumberland has received a Major Payment Institution licence from Singapore’s MAS to provide digital payment token and cross border money transfer services.
- The approval completes the licensing process after Cumberland SG received in principle approval from MAS in March.
- The licence comes as MAS continues approving compliant crypto firms while taking enforcement action against companies that fail to meet its regulatory standards.
According to an announcement by…
