FOMO Pay Joins DBS Digital Exchange for Merchants to Accept Crypto Paymentsby Fintech News Singapore December 14, 2021
Singapore-based major payment institution FOMO Pay announced that it will be joining as a member of the DBS Digital Exchange (DDEx).
FOMO Pay was recently granted a Digital Payment Token (DPT) Service license by the Monetary Authority of Singapore (MAS) in September this year.
Two full licenses were awarded to Australian cryptocurrency exchange Independent Reserve and DBS Bank’s brokerage arm DBS Vickers while Singaporean cryptocurrency platform Coinhako was issued an in-principle approval.
FOMO Pay is among the first DPT licensees to join the digital exchange as a member.
Being part of the DDEx ecosystem, FOMO Pay said that it intends on leveraging its institutional grade digital custodian and exchange services supported by DBS Bank to enable its merchants to accept payments in crypto and keep their funds safe.
“FOMO Pay, being Singapore’s DPT licensee, is proud to join DDEx.
With our efforts in building a comprehensive and compliant digital payment solution, we will be able to help our merchants adopt and accept crypto payments from their customers in a safe and risk-free manner,”
said Louis Liu, Founder and Chief Executive Officer, FOMO Pay.
Featured image: Edited from Unsplash