South Korean exchange Upbit gets initial license nod from Singapore By Cointelegraph

South Korean exchange Upbit gets initial license nod from Singapore By Cointelegraph

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Published Oct 15, 2023 08:46PM ET Updated Oct 15, 2023 10:20PM ET

South Korean exchange Upbit gets initial license nod from Singapore

The Singapore entity for Upbit, South Korea’s largest exchange by volume, has been given in-principal approval for a Major Payment Institution (MPI) license in Singapore.

On Oct. 16, Upbit Singapore said the Monetary Authority of Singapore (MAS) gave the in-principle license nod, allowing it to continue with digital payment token services to institutional investors while awaiting its full license.

The Upbit Singapore team, pictured in the city’s downtown area. Source: Upbit Singapore

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South Korean exchange Upbit gets initial license nod from Singapore

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