Upbit Singapore Obtains a Complete Digital Asset License From MAS

Published on:

Last Updated on January 9, 2024 by Bitfinsider

The Singapore unit of South Korean cryptocurrency exchange Upbit has received a Major Payment Institution (MPI) license from the city-state’s chief financial regulator.

The Monetary Authority of Singapore granted the license less than three months after the business gained in-principle clearance from the regulator in October.

“Upbit Singapore is poised to be the nexus of institutional activities, capitalizing on Singapore’s robust regulatory framework and its reputation as a leading financial center in Asia,” the company’s founder and CEO Alex Kim said in a statement on Monday.

Upbit Singapore’s parent firm, Upbit APAC, also runs cryptocurrency trading platforms in Thailand and Indonesia, according to the statement.


Hardware wallets are safe and secure devices that can be used offline. They keep your cryptocurrency offline, making it impossible for you to be hacked. To find out more on the leading hardware wallets, you may view our reviews here: Ledger & Trezor
Disclaimer: The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, legal, tax or other advice. Investing in or trading cryptocurrency or stocks comes with a risk of financial loss.

Related