Circle Singapore secures MPI license from MAS

The company can now provide digital payment token services, cross-border money transfers, amongst others services.

Circle Singapore, an affiliate of Circle Internet Financial, has received a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS). 

With this licence, Circle Singapore can provide digital payment token services, cross-border money transfers, and domestic money transfers in Singapore. 

Their offerings include the Circle Account, granting institutional customers access to USDC, a stablecoin known as a digital dollar that operates 24/7 at internet speed.

ALSO READ: MAS grants Wallex new services in addition to MPI license

Circle Singapore's MPI license from MAS highlights its reputation as a responsible digital financial technology company. 

It also affirms Circle's track record and contributions to the emerging internet-based global financial system, solidifying its position as a trusted and well-regulated operator.

With its MPI licence, Circle Singapore said it can now capitalise on the expertise of its corporate affiliates to foster innovation, broaden its range of services, and provide enhanced value to clients and stakeholders.