On January 1, South Korean cryptocurrency exchange Upbit Singapore has obtained a large payment institution license issued by the Monetary Authority of Singapore (MAS), enabling Upbit Singapore to expand its digital asset business standards in accordance with Singapore's regulatory standards.
As previously reported, Upbit Singapore has received the in-principle approval from the Monetary Authority of Singapore (MAS) to issue a large payment institution license. Upbit Singapore will join the regulated digital asset exchange group operated by Upbit APAC. Upbit APAC includes regulated digital asset exchanges in Indonesia and Thailand.