AI Summarization
Certainly! Crypto.com has received in-principle approval from the Monetary Authority of Singapore (MAS) for its Major Payment Institution License. Once granted, this license will allow Crypto.com to offer a range of payment services within the Payment Services Act, including Digital Payment Token (DPT) services to customers in Singapore1. The MAS sets a high regulatory bar, emphasizing innovation while safeguarding consumers, and their approval reflects the trusted and secure platform Crypto.com has built. With more than 50 million users worldwide, Crypto.com is actively growing and expanding its ecosystem. Additionally, the platform’s website and mobile application are legally operating in Singapore, meeting legal and regulatory compliance requirements2. So, it’s a promising choice for cryptocurrency services in Singapore! ππ
My Thoughts
I've been receiving steady referral rewards from Crypto.com (Screenshot below).
Positive news from theblock.co leads me to think that retail traders have assessed it to be a good platform for crypto.
Hopefully, we do not have another episode of FTX and things are more stabilised with the centralised exchanges. The more there are the better it is for retail investors.
My Actions
- Pausing on crypto purchases as allocation target is too high.
- No preference on crypto exchange.
- Using either Coinbase, Crypto.com, Coinhako, Independent Reserve, Gemini or any new SGD pairing platforms.
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