{"id":79874,"date":"2023-06-07T16:22:48","date_gmt":"2023-06-07T13:22:48","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=79874"},"modified":"2025-09-11T13:31:36","modified_gmt":"2025-09-11T10:31:36","slug":"circle-obtains-major-payment-institution-licence-in-singapore","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/circle-obtains-major-payment-institution-licence-in-singapore\/","title":{"rendered":"Circle obtains Major Payment Institution licence in Singapore"},"content":{"rendered":"<p>The subsidiary of the stablecoin issuer <a href=\"https:\/\/u1f987.com\/en\/news\/what-is-the-usdc-stablecoin\">USDC<\/a> \u2014 Circle \u2014 has obtained a <span data-descr=\\\"Major Payment Institution \u2014 large payment institution\\\" class=\\\"old_tooltip\\\">MPI<\/span> licence from the Monetary Authority of Singapore.<\/p>\n<blockquote class=\\\"twitter-tweet\\\" data-lang=\\\"en\\\">\n<p lang=\\\"en\\\" dir=\\\"ltr\\\">We are honored and excited to share that Circle Singapore has obtained a Major Payment Institution (MPI) License from <a href=\\\"https:\/\/twitter.com\/MAS_sg?ref_src=twsrc%5Etfw\\\">@mas_sg<\/a>! <a href=\\\"https:\/\/t.co\/RZSfeBZiqJ\\\">https:\/\/t.co\/RZSfeBZiqJ<\/a><\/p>\n<p>Now, we can offer digital payment token services alongside cross-border and domestic money transfer services in Singapore and\u2026<\/p>\n<p>\u2014 Circle (@circle) <a href=\\\"https:\/\/twitter.com\/circle\/status\/1666269080750309376?ref_src=twsrc%5Etfw\\\">June 7, 2023<\/a><\/p><\/blockquote>\n<p> <script async src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p>&#8220;The approval allows Circle Singapore to offer digital payment token services in the city-state, including cross-border and domestic money transfers, using a range of products and services,&#8221; the statement said.<\/p>\n<\/blockquote>\n<p>Local institutional clients will be able to access USDC directly through a Circle account.<\/p>\n<p>The company formally opened the Singapore office in May. However, as early as February, Circle Singapore collaborated with the state-backed blockchain accelerator Tribe. The partners jointly <a href=\\\"https:\/\/www.circle.com\/en\/pressroom\/circle-teams-with-tribe-on-a-first-of-its-kind-hacker-house-to-power-next-gen-web3-developers\\\">held a hackathon<\/a> with more than 350 <a href=\"https:\/\/u1f987.com\/en\/news\/what-is-web3\">Web3<\/a>-developers.<\/p>\n<p>In November 2022, Circle&#8217;s unit received in-principle approval from the regulator to obtain the status of a payment institution. The company designated the jurisdiction as the primary hub for servicing its business in Asia.<\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p>&#8220;Singapore is an integral part of Circle&#8217;s global expansion and mission to improve global economic wellbeing and the free flow of value,&#8221; said Circle co-founder and CEO Jeremy Allaire.<\/p>\n<\/blockquote>\n<p>Earlier in March 2023, the company <a href=\"https:\/\/u1f987.com\/en\/news\/circle-applies-for-licenses-in-france\">applied<\/a> for licences to operate as a digital asset service provider and as an electronic money institution in France as part of <a href=\"https:\/\/u1f987.com\/en\/news\/usdc-issuer-to-build-a-global-stablecoin-network\">its expansion across the European continent<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The subsidiary of the stablecoin issuer {{AOPEN_1}}USDC{{ACLOSE_1}} \u2014 Circle \u2014 has obtained a Major Payment Institution licence from the Monetary Authority of Singapore.<\/p>\n","protected":false},"author":1,"featured_media":79875,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1220,36,946],"class_list":["post-79874","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-circle","tag-regulation","tag-singapore"],"aioseo_notices":[],"amp_enabled":true,"views":"24","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/79874","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=79874"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/79874\/revisions"}],"predecessor-version":[{"id":79876,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/79874\/revisions\/79876"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/79875"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=79874"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=79874"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=79874"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}