MetaComp gets nod to provide digital payment token services in Singapore & More Trending News


Singapore-based cryptocurrency alternate MetaComp Pte. Ltd stated Thursday it has been awarded a licence from the Monetary Authority of Singapore (MAS) to provide digital payment token services as a serious payment establishment in Singapore.

In a press release, MetaComp stated that efficient December, 2022, the agency has been granted license below the Payment Services Act, enabling it to supply a holistic, end-to-end suite of digital asset services to corporates, in addition to conventional and crypto-native institutional buyers, and enabling it to safely bridge the hole between conventional finance and crypto property for its prospects.

“At MetaComp, we consider in the potential of tokenisation and in its capacity to clear up a number of the world’s most urgent points at present — from enhancing monetary inclusion to strengthening the integrity of inexperienced finance initiatives,

“This is a view that the MAS has equally held, evidenced by the robust regulatory frameworks that have enabled Singapore to position itself on the global stage as a trusted hub for digital asset innovators such as MetaComp to grow,” stated Bo Bai, Executive Chairman and Co-Founder of MetaComp.

MetaComp presents a number one digital asset alternate constructed on the cloud and powered by the Nasdaq buying and selling engine.

Backed by bank-grade, enhanced buyer due diligence that’s compliant with international KYC/AML frameworks as stipulated by the Financial Action Task Force (FATF), MetaComp empowers accredited and institutional buyers to confidently enter the digital market with security, safety, and compliance.

Led by a workforce of executives with over three a long time of collective expertise throughout main multinational and regional monetary services companies, the agency straddles the worlds of conventional finance throughout personal fairness and hedge funds and digital property.

MetaComp’s efforts to drive token innovation are strengthened by its father or mother firm MetaVerse Green Exchange (MVGX)’s distinctive set of licenses.

MVGX is a digital inexperienced alternate that holds the Recognised Market Operator License and Capital Market Service License for dealings in securities and collective funding schemes and offering custodial services, below Singapore’s Securities and Futures Act.

Under its Capital Market Service License, MVGX can be permitted to conduct dealings in over-the-counter (OTC) derivatives and exchange-traded derivatives, to additional improve the agency’s general monetary choices.

Together, each entities are in a position to supply publicity to tokens backed by real-world property, resembling tokens backed by mental properties, tokens backed by provide chain financing, and tokens backed by carbon credit in the type of the Carbon Neutrality Token (CNT), successfully strengthening their positions as enablers of sustainable development of the real-world economic system.

As a first-rate instance of token innovation, the CNT is designed with the corporate’s proprietary protocols and blockchain know-how to facilitate cross-border buying and selling of carbon voluntary emission discount credit.

“In recent years, we’ve witnessed the rapid expansion and maturation of the digital assets ecosystem. Our team built MetaComp to serve as a compass guiding institutional investors and businesses in their long-term digital asset investment journey, setting them on the right path from the very start,” stated Bai.

“The regulatory assist from the MAS is essential in imbuing even better belief and integrity in Singapore’s home digital asset business, enabling establishments to make the leap into the sector with confidence,

“With MetaComp now regulated as a Major Payment Institution, we look forward to leveraging our unique set of regulatory licenses to support traditional financial services in their transition towards embracing a new breed of digital financial services,” he added.

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MetaComp gets nod to provide digital payment token services in Singapore

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MetaComp gets nod to provide digital payment token services in Singapore

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MetaComp gets nod to provide digital payment token services in Singapore

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