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Author: Admin | 2025-04-27
American depositary receipts, with trading options in the US, Hong Kong, and China. The firm is operational in the US, Malaysia, and Australia.XREX Singapore, a blockchain-based fintech focused on cross-border payments, is preparing to provide various payment services, such as digital payment tokens. The company is also enhancing its BitCheck tool to facilitate transactions involving fiat, stablecoins, and cryptocurrencies.OKX SG Pte. Ltd., the Singapore subsidiary of cryptocurrency exchange and Web3 technology firm OKX, has received in-principle approval from the Monetary Authority of Singapore (MAS) for a Major Payment Institution License. This license allows OKX to offer digital payment token (DPT) and cross-border money transfer services in Singapore, in accordance with the Payment Services Act 2019. With this approval, OKX plans to develop customized products and services tailored to the local market.Bitstamp, a European cryptocurrency exchange established in 2011. Focusing on institutions and intermediaries, such as payment processors and fintechs, Bitstamp aims to strengthen its global regulatory presence, adding to its existing 52 licenses and registrations worldwide. The company claims to be the first cryptocurrency exchange with a significant EU presence to secure such approval in Singapore.Hong Kong-based HashKey Technology Services, the over the counter (OTC) trading division of the HashKey Group and is a Web3 infrastructure developer and virtual asset group. The group provides institutional and accredited investors with spot trading for nearly 40 digital tokens, on/off ramp services, large notional trades, and fast settlement, among other services.Crypto firms that withdrew their license applicationsHodlnaut is a Singapore-based fintech startup that allows crypto investors to earn interest on their crypto holdings by lending them to vetted institutions.However, it has withdrawn its Major Payment Institution License application from MAS and halted withdrawals, token swaps, and deposits with immediate effect citing “market conditions” as its reason.Hodlnaut and its directors are currently being investigated by the police for possible cheating and fraud offences.Luno is a global crypto exchange headquartered in London that serves over 10 million customers across more than 40 countries.In 2023, the company decided to halt its services in Singapore, withdrawing its previously submitted license application to the MAS and ceasing operations
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