XREX receives approval for crypto payment services in Singapore
XREX, a crypto exchange in Asia focusing on cross-border payment s, has secured in-principle approval for a Major Payment Institution (MPI) license in Singapore. On Nov. 17, XREX announced on X (formerly Twitter) that it had received initial approval from the Monetary Authority of Singapore for a license that would eventually allow the firm to offer digital payment token services and products in the city-state. XREX has received the in-principle approval for the Major Payment Institution license in #Singapore, issued by the Monetary Authority of Singapore. This means that XREX Singapore can operate the following services: (1/3) pic.twitter.com/VT0pJUvpxZ — XREX Inc. (@xrexinc) November 17, 2023 Once fully acquired, the license will enable the company to expand BitCheck, a payment tool that facilitates transactions with fiat currencies, stablecoins, and other cryptocurrencies. “Hard-fought, the approval from the MAS has taken years to come to fruition, and rightly s...