Digital assets trading platform Sparrow announced that it has obtained a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS) to provide Digital Payment Token (DPT) services.
Sparrow was previously issued an In-Principle Approval (IPA) from MAS in June 2022 following their MPI license application.
MAS has adopted a rigorous regulatory approach and thus far, only a select few digital payment token firms have been licensed.
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