Crypto Custody Firm Leaves Singapore’s Regulatory Sandbox With License, ISO R...

The Singapore-based Propine emerged from the MAS regulatory sandbox with a Capital Markets Services License, and authorization to begin offering digital asset services to institutions. Crypto-custody provider and securities firm, Propine, has graduated from the Monetary Authority of Singapore’s fintech regulatory sandbox program, emerging with a Capital Markets Services License, and the green-light to commence full operations.The Singapore-based securities services firm for institutional clients was admitted entry to the MAS regulatory sandbox on Nov. 8, 2019, and participated for just....

The Bank of Uganda (BOU) has announced the launch of a regulatory sandbox that will allow fintech start-ups to test their innovative financial solutions in a controlled environment. Already, one firm, M/S Wave Transfer Limited, has received approval to test its quick response (QR) technology under this sandbox arrangement. BOU Launches Regulatory Sandbox for Fintech In its statement on June 15, the BOU says it is now inviting more firms to develop and similarly test their financial innovations under this framework. Meanwhile, the BOU statement also expands on why the central bank has....

The stablecoin issuer said the regulatory approval would help support its partners in expanding services into Asia. The Monetary Authority of Singapore, or MAS, has granted stablecoin issuer Paxos regulatory approval to offer crypto services to local companies.In a Thursday announcement, Paxos said it had received a license from Singapore’s financial regulator allowing the firm to provide blockchain and crypto services under the country’s Payment Services Act. The stablecoin issuer said the regulatory approval would help support its partners in expanding services into Asia.“We’re excited....

Fintech firm Centbee recently announced it has successfully completed the testing of its cross-border remittance application, Minit Money. The testing of the application was carried out within the framework of the South African Intergovernmental Fintech Working Group (IFWG)’s regulatory sandbox. Using Crypto to Enable Faster and Cheaper Remittances In a statement, the fintech firm claims its Minit Money application has demonstrated an ability to “enable foreigners living in South Africa to send money home across Africa to bank accounts or mobile money wallets at a....

The MFSA is finally issuing the first licenses formed under the crypto laws introduced in 2018. Cryptocurrency exchange and debit card provider Crypto.com has scored major regulatory approvals from the Maltese government.According to a Nov. 24 announcement, the Malta Financial Services Authority, or MFSA, has granted Crypto.com two financial licenses: a Financial Institution License and a Class 3 Virtual Financial Assets, or VFA, License.The Financial Institution License officially enables Crypto.com to provide payment services and issue electronic money. A Class 3 VFA License allows....