CoinDesk reported that on March 18, Cumberland SG, the Asian subsidiary of the US cryptocurrency trading firm Cumberland, said on Monday that it has received in-principle approval for a Major Payment Institution (MPI) license from the Monetary Authority of Singapore. Cumberland said that once the MPI license is fully granted, it will be able to provide regulated digital payment token services in Singapore.
Cumberland has received approval-in-principle for a major payment institution licence from the Monetary Authority of Singapore
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