Singapore grants stablecoin issuer Circle in-principle license to offer payment products

2022/11/02 03:10

According to Coindesk, stablecoin issuer Circle has received an in-principle license from the Monetary Authority of Singapore (MAS), allowing it to operate as a payments company in the country. Circle, which sought a Major Payments Institution License from the Singapore central bank, can now offer cross-border and domestic payment services. The company, which is behind the USDC stablecoin, can also offer token products. The license will help Circle's global expansion plans, said CEO Jeremy Allaire in a statement.

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