QCP Trading has joined the ranks of licensed digital asset firms in Singapore after receiving a Major Payment Institution license from the Monetary Authority of Singapore.

The approval follows an in-principle clearance in November 2024 and allows QCP Trading to provide over-the-counter spot trading of digital payment tokens to institutional clients.

Its services include multi-currency on- and off-ramping, voice trading, API connectivity, and same-day settlement with local banking partners.

Parent company QCP Group said it has expanded its Singapore team by about 40 percent year on year, with new hires across compliance, operations, and client coverage.

Founded in 2017, QCP Group offers derivatives, spot trading, and structured products to institutional, professional, and accredited investors.

It is headquartered in Singapore and also operates an office in Abu Dhabi.

Darius Sit, Founder of QCP Group, said,

“The granting of the MPI license for our spot DPT trading arm reflects our unwavering commitment to regulatory integrity and our mission to build the most trusted institutional trading platform in digital assets.

This milestone enables us to deepen our roots in Singapore’s financial ecosystem, while delivering compliant, and seamless services to clients across the region and globally.”

Melvin Deng, Chief Executive Officer of QCP Trading, said,

“Singapore continues to lead with forward-thinking digital asset regulation.

Being licensed under MAS positions QCP Trading to meet the growing institutional demand for trusted DPT services.”

Featured image: Edited by Fintech News Singapore, based on image by lifeforstock via Freepik