Today, we are thrilled to announce that Coinhako, a leading Singapore cryptocurrency platform, has obtained the official approval of the Monetary Authority of Singapore (MAS) for a Major Payment Institution (MPI) license.
This significant achievement enables us to operate as regulated providers of Digital Payment Token (DPT) Services under the Payment Services Act (PSA). Obtaining this full license represents the culmination of our 8-year journey as a homegrown crypto platform, and we are deeply grateful for the unwavering trust and support of our community. Operating in Singapore, a nation strategically positioned as Asia's fintech hub with robust business infrastructure and progressive frameworks, further amplifies our success.
Coinhako's MPI License: A Testament to Compliance and Trust
Obtaining the licence has always been a top priority for us. Team members across various departments, especially Compliance, have worked arduously towards helping Coinhako achieve this goal.
"Singapore's stringent regulatory environment has played a crucial role in establishing the country's strong and trustworthy reputation for risk management among innovators, entrepreneurs, and investors. As the interest in digital assets continues to grow, it becomes imperative for institutional and corporate investors to have confidence in Singapore's financial stability and the assurance that robust policies and frameworks are in place to safeguard their assets."
Yusho Liu, CEO & Co-Founder of Coinhako
Coinhako has always embraced a compliant-first approach, and with the MPI license to provide Digital Payment Token (DPT) Services, we are empowered to advance our mission of being Asia's gateway to the crypto-economy and beyond."
As the foremost cryptocurrency solutions provider in Singapore, we are confident that this license will enable us to better serve the community for many years to come.
-Gerry Eng, CTO and Co-founder
Want to buy crypto in Singapore? Sign up for a Coinhako account!
Disclaimer: All writers’ opinions are their own and do not constitute financial advice. As a company, we do our best to provide information that is accurate and valuable. The contents of this blog post are intended for educational purposes only. Individuals are advised to perform due diligence before purchasing any cryptocurrencies as these assets are subject to high volatility, and understand the risks associated with trading cryptocurrencies.
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