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Upbit Secures Major Payment Institution License from Monetary Authority of Singapore

South Korea’s leading crypto exchange Upbit’s subsidiary Upbit Singapore announced that it has received a Major Payment Institution License from the Monetary Authority of Singapore. This accomplishment follows the previously announced in-principle approval (IPA) in October 2023, under the Payment Services Act 2019. The newly obtained MPI license positions Upbit Singapore among the few fully licensed exchanges that operate in line with Singapore’s stringent regulatory standards. The crypto exchange, now holding the MPI license, becomes the latest addition to Upbit APAC’s portfolio—a prominent global digital asset group.

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