Genesis, a digital asset prime brokerage, announced that Genesis Asia Pacific Pte. Ltd. (Genesis Asia Pacific) has received in-principle approval by the Monetary Authority of Singapore (MAS) for a Major Payment Institution license. This makes Genesis Asia Pacific one of a handful of Singapore-based digital payment token service providers who have received such in-principle approval.
Genesis is proud to announce that Genesis Asia Pacific has received in-principle approval by the Monetary Authority of Singapore (@MAS_SG) for a Major Payment Institution license.
Full details: https://t.co/KZNCC6Ggcw pic.twitter.com/6NQGL1qJ73
— Genesis (@GenesisTrading) June 24, 2022
“MAS has been very transparent and engaged throughout the application process and we appreciate its commitment to prudent and constructive oversight of the industry,” said Michael Moro, CEO of Genesis.
Genesis offers sophisticated market participants a fully integrated platform to trade, borrow, lend, and custody digital assets, creating new opportunities for yield while increasing capital efficiency for counterparties. Since its founding in 2013, Genesis has aimed to provide institutional investors around the world with access to industry-leading products and services that are addressing an evolving global regulatory framework.
Source: Genesis
NEWSLETTER SIGN UP
And receive exclusive articles on securities markets
As Technology Evolves, Asset Managers Adapt and Innovate
Citi Changes Organizational Structure
SEC Charges Virtu for Disclosures Relating to Information Barriers
ICE Futures Singapore Partners with CoinDesk Indices
Related articles
-
Singapore Exchange will offer futures linked to SORA and TONA.
-
They will co-invest $1bn in private credit opportunities throughout the Asia Pacific region.
-
ASEAN-ISE will implement common ESG metrics in data infrastructures.
-
The future of finance is in bridging the gap between traditional capital markets and digital ecosystems.
-
SSE-SGX ETF Product Link builds on a similar link between SGX and Shenzhen last year.