Upbit Singapore has announced that it has received in-principle approval for a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS). This allows Upbit to continue offering digital payment token services to institutional investors while awaiting full approval.
It's worth noting that in October alone, entities such as Coinbase, Ripple, and Sygnum Bank in Singapore also received MAS approval for their respective licenses, bringing the total number of digital payment token service companies with such licenses to 15.