Singapore issues 33 DPT licenses to build a standardized encryption ecosystem.

The Monetary Authority of Singapore has issued 33 "Digital Payment Token Services (DPT)" major payment institution licenses, covering four main areas: exchange and wallet, custody and compliance infrastructure, payment acquisition, as well as banking and brokerage.

Among these licensed institutions are several well-known companies. This initiative marks the gradual formation of Singapore's crypto ecosystem under compliance regulation, while also attracting regional funds and institutions to accelerate their gathering.

Singapore is building a regulated and orderly cryptocurrency market environment in this way. This not only provides clear operational guidelines for enterprises but also brings more protection for investors. With the improvement of the regulatory framework, Singapore is expected to become one of the important cryptocurrency centers in the Asia-Pacific region and even globally.

This initiative reflects Singapore's efforts to strike a balance between financial innovation and risk management. By issuing licenses, Singapore encourages the development of the cryptocurrency industry while ensuring that related activities are carried out within a regulatory framework, helping to mitigate potential risks and protect investor interests.

With more institutions obtaining licenses, Singapore's cryptocurrency ecosystem is expected to further flourish, attracting more international enterprises and talent. This will not only drive innovation in Singapore's fintech sector but may also have a positive impact on the cryptocurrency market across the Southeast Asia region.