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Circle Earns In-Principle Regulatory Approval in Singapore

Cointime Staff· 2 min read

Circle Internet Financial, a global digital financial technology firm and the issuer of USD Coin (USDC) and Euro Coin (EUROC), has received In-Principle Approval as a Major Payments Institution License holder from the Monetary Authority of Singapore (MAS). This allows Circle to offer digital payment token products, cross-border and domestic transfer services in the city state, giving rise to a new generation of financial services and commerce applications.

“This milestone enables us to work with all relevant stakeholders and demonstrate the potential of digital currencies, open payment systems and innovation-forward fintech regulations to drive economic growth and strengthen Singapore’s position as a global hub for digital assets,” said Dante Disparte, Circle’s Chief Strategy Officer and Global Head of Public Policy.

“As one of the world’s leading financial hubs, Singapore is instrumental to Circle’s regional and global expansion plans in raising global economic prosperity,” said Jeremy Allaire, Co-Founder and CEO of Circle. “We are honored to receive the in-principle license, and we look forward to more collaborations with MAS to support the thriving crypto and blockchain ecosystem as well as the advancement of fintech innovation in Singapore.”

Circle previously identified Singapore as its principal hub in Asia and continues hiring in the city state to service its growing regional business.

As part of Circle’s commitment to the region, Jeremy and Dante will be taking the stage at the Singapore Fintech Festival from November 2, 2022 to November 4, 2022, speaking about the long-term viability and the future outlook of digital assets.

About Circle

Circle is a global financial technology firm that enables businesses of all sizes to harness the power of digital currencies and public blockchains for payments, commerce and financial applications worldwide. Circle is powering always-on internet-native commerce and payments and is the issuer of USD Coin (USDC) and Euro Coin (EUROC). Today, Circle's transactional services, business accounts, and platform APIs are giving rise to a new generation of financial services and commerce applications that hold the promise of raising global economic prosperity for all through the frictionless exchange of value. Learn more at https://circle.com.

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