JST Digital receives in-priniple approval for payments licence in Singapore
JST Digital, a global financial services firm specializing in digital assets, has announced that its Singapore subsidiary, JST Digital & Technology Pte. Ltd. (“JST Singapore”) has received an in-principle approval for a Major Payment Institution (MPI) licence from the Monetary Authority of Singapore (MAS) to provide digital payment token service.
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Todd Morakis, CEO of JST Singapore & Co-founder of JST Digital, commented on the news, “We’re proud to receive in-principle approval from the MAS allowing us to operate in one of the leading regulatory frameworks for digital assets in the region. I’ve been working in the financial industry in Singapore for more than three decades and believe that MAS has done a great job for creating a comprehensive regulatory framework for digital assets and traditional finance alike.”
JST Singapore provides market making, bespoke solutions & trade execution services. After meeting the admission requirements to achieve this regulatory milestone, JST Singapore will continue to work towards securing its licence under Singapore’s robust regulatory framework.
Scott Freeman, Non-Executive Director of JST Singapore & Co-founder at JST Digital, concluded, “This in-principle approval from the MAS comes at an opportune time with market activity increasing and growing demand for our services over the past year.”