The approval from the Monetary Authority of Singapore represents a big step to offering Digital Payment Token services to consumers in Singapore
Bhop Consulting Pte Ltd trading as Singapore-based crypto exchange BHEX.SG, announces that it has received the Standard Payment Institution licence from the Monetary Authority of Singapore (MAS).
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The new acquirement comes after a stringent examination and approval process conducted by MAS. Licensees are required to meet a high bar of compliance requirements to protect consumers. The granting of the Standard Payment Institution license will enable BHEX.SG to offer DPT services to customers in Singapore.
Since it was founded in 2018, there has been no system accidents or fraud incidents reported in the past few cryptocurrency cycles. Continuous upgrades of system infrastructure and security risk managements are implemented to mitigate any possible new threats and meet the growing demands of the industry.
BHEX.SG has partnered with leading licensed service providers in the global market aiming to focus and better serve institutional investors, family offices, accredited and high net worth investors rather than the retail investors, as this crypto field is still volatile for the retail segment.
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Tyler Wu (Wu GuanLi), CEO of BHEX.SG, said, “Compliance is an essential element in the digital asset industry and BHEXSG is committed to being a fully compliant service provider to protect our customers. Future opportunities in the industry belong to companies that practice these values.”
With Singapore being among the most competitive economies globally and serving as a regional hub, he also believes that Singapore plays a significant role as a financial and crypto pioneer in Southeast Asia. To further unlock the potentials of this market, BHEX.SG will aim to provide an improved crypto landscape for the public.
Interested consumers can keep up to date with the latest developments and initiatives by BHEX.SG through its official website. The platform is also available for download on iOS and Android devices as well.
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