- Circle Singapore attains MPI License, paving way for enriched digital payment services.
- Receipt of MPI License reinforces Circle’s reputation as a responsible digital fintech.
- Circle Singapore’s MPI License: A major step for regulated, transparent digital currencies.
Circle Internet Singapore Pte. Ltd. (Circle Singapore), a subsidiary of Circle Internet Financial, LLC (Circle), has achieved a remarkable milestone. The Monetary Authority of Singapore (MAS) has granted Circle Singapore a Major Payment Institution (MPI) license, a feat that reinforces Circle’s robust standing in the digital finance realm.
The license endows Circle Singapore with the authority to offer an array of digital payment token services, including the Circle Account facilitating access to USDC for institutional clientele. USDC, a stablecoin issued by Circle, is accessible around the clock, enabling transactions at the speed of the internet.
The MPI License acquisition is a testament to Circle’s proven track record in the burgeoning internet-based global financial system. This significant accomplishment bolsters Circle’s credibility as a trustworthy and regulated operator, marking a monumental stride towards a regulated, transparent, and reliable digital dollar era in Singapore and the broader Asian region.
As a licensed entity, Circle Singapore stands primed to capitalize on its affiliates’ expertise to foster innovation, broaden its services, and deliver augmented value to its clients and stakeholders. The regulated digital dollar currencies, like USDC, lay the groundwork for a new generation of financial services, encouraging the development of digital assets, blockchain, and web3 ecosystems.
Jeremy Allaire, Circle’s Co-Founder, and CEO, emphasizes Singapore’s critical role in Circle’s global mission to enhance global economic prosperity. He expressed his delight at the MPI License acquisition and reiterated Circle’s commitment to contribute to Singapore’s vibrant economy by promoting fintech innovations.
Circle’s Chief Strategy Officer, Dante Disparte, echoed Allaire’s sentiment, lauding this achievement as a significant leap for Circle and the future of financial infrastructure and digital dollar currencies in the region.
Circle’s recent achievement signals a bright future for the company in the cryptocurrency sector. With the MPI License, Circle is well-positioned to revolutionize digital payment services, heralding a new age of accessible and efficient crypto transactions. This advancement underlines Circle’s commitment to crafting a future where digital currencies and blockchain technology are integral elements of our financial systems.
