Paxos And USDC Issuer Circle Receive Regulatory Approval From Singapore
In a recent development, the stablecoin issuers Circle and Paxos have received approvals in Singapore. According to the report, the Monetary Authority of Singapore (MAS) signed the licenses for the firms. Regulatory licenses and approvals have become mandatory in almost all jurisdictions for crypto-related companies. Most countries are using regulatory approvals as a measure to […]
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The approvals came after the Monetary Authority of Singapore issued two consultation papers that proposed to ease regulatory hurdles for digital asset service providers. Stablecoin issuers Circle and Paxos have each received approvals for their respective licenses from the Monetary Authority of Singapore (MAS), the city-state's central bank.Circle received in-principle approval for a Major Payments Institution License allowing it to issue cryptocurrencies and facilitate domestic and cross-border payments while Paxos received its license to offer digital payment token services.Circle and....
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....
Support for withdrawals comes shortly after Crypto.com launched support for USDC deposits, thanks to a new partnership with USDC issuer Circle. The digital asset exchange platform Crypto.com has now enabled withdrawals of USD Coin (USDC), meaning that users can withdraw the stablecoin and receive U.S. dollars at a one-to-one ratio directly to their bank account.The announcement comes just over a month after the platform launched support for USDC deposits, following a new partnership with the stablecoin’s issuer, Circle. The partnership enabled Crypto.com users to transfer fiat currency....
Circle, a USDC stablecoin issuer, is incorporating the use of Polygon USDC into its payment system. The organization stated this on Tuesday, June 7. As a result, operations on Circle APIs will now take a new dimension for developers. For example, integrating fiat currencies into Polygon USDC is now a simple task. Several emerging NFT […]
Circle's Asia plans include a regional headquarters in Singapore, a new venture arm and investment in Japanese yen stablecoin efforts. Circle, the United States-based issuer of USD Coin (USDC), has set its sights on thriving Asian crypto markets. In a move to strengthen its presence in Asia, Circle picked Singapore to establish a regional headquarters. The company is also setting up an investment arm called Circle Ventures, according to Circle CEO Jeremy Allaire’s interview with Bloomberg. The venture arm’s first investment will focus on a Japanese yen stablecoin.Allaire said the company....