Straits Millennium has received in-principle approval from the Monetary Authority of Singapore (MAS) for a Major Payment Institution (MPI) license.

The approval allows the company to offer digital payment token services.

A subsidiary of Straits Financial Group which operates globally, Straits Millennium provides financial services in commodities, derivatives, and brokerage.

Straits Millennium is now actively working toward securing its full MPI license from MAS, which would allow it to formally operate digital asset services in the country.

Jeremy Ang, Group CEO of Straits Financial Group, said,

“Securing the in-principle approval for our Major Payment Institution License is a testament to our unwavering commitment to regulatory excellence, innovation, and customer-centric solutions. Singapore has established itself as a global leader in digital asset regulation, and we are proud to play a role in shaping the future of the financial industry.

With our deep expertise in derivatives, commodities, and institutional financial services, we are well- positioned to provide trusted and seamless digital asset offerings to our clients. We look forward to working closely with MAS to finalize our full license and deliver best-in-class services to the market.”

Amily Ho, Digital Assets Lead at Straits Millennium, added,

“The demand for compliant, seamless, and efficient digital token services continues to rise, and Straits Millennium is here to bridge that gap. Our in-principle approval allows us to build a secure and regulated ecosystem for industry players who require reliability, transparency, and scalability in their digital asset operations.

Whether it’s facilitating liquidity solutions or enabling efficient trading services, we are committed to delivering innovative and regulatory- compliant services that meet the evolving needs of the market.”

Featured image credit: Edited from Freepik