XREX receives in-principle approval for Singapore’s major payment institution license
XREX, a cryptocurrency exchange specializing in cross-border payments based in Asia, has received principle approval for a major payment institution (MPI) license in Singapore. XREX stated in a statement that the Monetary Authority of Singapore has granted preliminary approval for the company's license, which will eventually allow it to offer digital payment token products and services in Singapore. Once fully obtained, the license will allow the company to expand BitCheck, a payment tool that supports fiat currencies, stablecoins, and other cryptocurrencies.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Non-USD stablecoins may boost global e-commerce adoption
Stablecoin trading hits $1.8T in November
Vancouver mayor proposes adding Bitcoin to city reserves
Ex-Fortnite player linked to $3.5M memecoin scams