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XREX secures MPI license from Singapore regulator

Taipei-based cryptocurrency exchange XREX has received in-principle approval from the Monetary Authority of Singapore (MAS) for a Major Payment Institution (MPI) license. The approval marks a crucial step for the fledgling exchange business, enabling it to offer digital payment token products and services in Singapore. Once it’s upgraded to a full license, XREX will be able to expand its BitCheck payment tool, currently facilitating transactions involving fiat currencies, stablecoins and various cryptocurrencies. This regulatory milestone places XREX among the approved exchanges, stablecoin issuers, neobanks and payment service providers in Singapore. XREX now joins the ranks of established entities.

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