Stablecoin issuer Circle is now a major payment institution in Singapore

The Monetary Authority of Singapore has granted Circle a Major Payment Institution license. Now, the USDC stablecoin issuer’s affiliate, Circle Internet Singapore, can offer digital payment token services and cross-border and domestic money transfer services in the Singapore.

Before opening its office in Singapore last month, Circle had partnered the city-state’s first government-supported blockchain ecosystem builder, Tribe, in February.

Late last year, Circle Singapore received In-Principle Approval as a Major Payment Institution License holder from the country’s monetary authority.

Leave a Reply

Your email address will not be published. Required fields are marked *