Sygnum Singapore has obtained a major payment institution license from the Monetary Authority of Singapore

ChainCatcher news, according to Cointelegraph, Swiss cryptocurrency bank Sygnum's subsidiary Sygnum Singapore has obtained a Major Payment Institution License (MPIL) issued by the Monetary Authority of Singapore (MAS), allowing it to provide cryptocurrency brokerage services to qualified investors and institutions in Singapore.

A spokesperson for Sygnum Singapore revealed in an interview with Cointelegraph that the company's license transitioned from in-principle approval to a full license within four months.