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CRYPTO.COM ACHIEVED REGULATORY GO-AHEAD IN SINGAPORE AIMS TO BRING DPT IN SINGAPORE

CRYPTO.COM ACHIEVED REGULATORY GO-AHEAD IN SINGAPORE AIMS TO BRING DPT IN SINGAPORE

As it spreads to all parts of the world, Crypto.com has received approval from the Monetary Authority of Singapore (MAS) to this day.


So once a crypto exchange company has acquired its Large Payment Center License, it will be bringing its services to the country.


Singapore To Receive Crypto.com Dosage

With this license, Crypto.com will be able to offer a variety of payment services within the Payment Services Act including Digital Payment Token (DPT) services to Singapore customers.


Commenting on the approval, Crypto.com Founder and Chief Executive Officer, Kris Marszalek, said,


“The Singapore Monetary Authority sets up a high-level regulatory bar that develops innovation while protecting consumers, and their basic authorization of our application reflects the trustworthy and secure platform we have worked so hard to build. We look forward to continuing our partnership with MAS and deepening our roots in Singapore - a thriving innovative fintech marketplace, renowned for its well-managed business environment. "


This will be the second largest country Crypto.com will reach after it has recently received the temporary approval of its Virtual Asset MVP License from the Dubai Virtual Assets Regulatory Authority (VARA).


With more than 50 million customers worldwide, Crypto.com has the fastest growing network in the world, and by adding more countries to its network, Crypto.com makes it even more powerful.


But Growth Is Limited

Growth, while limited, is limited only to the traditional Crypto.com token, Cronos (CRO). Faced with market downturn and all altcoin, CRO dropped by about 42% this month alone. Currently trading at $ 0.1143, the CRO did not show signs of recovery as a signal as it did fall.



Although at the time of writing, there is a slight slowdown in the MACD indicator due to the emergence of green bars, it is doubtful whether that will be sufficient to withstand the wide range of bearish cues.


So while Crypto.com is moving forward in investing in foreign exports, CRO will remain integrated until sufficient external features make it to the top.

Source: yahoo




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