QCP Receives Major Payment Institution License in Singapore for Crypto OTC Services
QCP Trading has received a Major Payment Institution license in Singapore, authorizing the firm to provide over-the-counter spot cryptocurrency trading services to institutional clients under regulatory oversight, the firm announced in a statement on Monday.
The Monetary Authority of Singapore (MAS) granted the license to QCP Trading Pte. Ltd., the OTC trading division of QCP Group, following an in-principle approval announced in November 2024. The license covers spot trading of digital payment tokens, Singapore’s regulatory term for cryptocurrencies.
The approval positions QCP Trading to serve institutional demand for regulated crypto services in Singapore. The platform offers multiple currency on/off-ramp services, voice trading…
