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Home»Crypto News Flash»Altcoins»Singapore to approve three companies to offer digital payment token services

Singapore to approve three companies to offer digital payment token services

Altcoins June 22, 2022
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Three companies, Crypto.com, Genesis and Sparrow Tech, will be approved in principle in Singapore to offer digital payment token services in Singapore, despite maintaining a strict licensing regime for cryptocurrencies.

“We must continue to build trust through regulatory measures while encouraging innovation and realizing gains,” Deputy Prime Minister Heng Swee Keat told a conference in Zurich on Wednesday.

The new approval brings the number of crypto companies that have received regulatory approval to 14, a fraction of the nearly 200 companies that applied.

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