VC Plus Gets In-Principle Approval to Provide Custodial Services for Digital Assetsby Fintech News Singapore November 21, 2022
Investment firm VC Plus announced that its subsidiary Custody Plus has received in-principle approval for a Capital Markets Services (CMS) license from the Monetary Authority of Singapore (MAS).
This allows Custody Plus to provide custodial services for capital market products, including tokenised securities.
VC Plus had secured shareholders’ approval in April 2021 to diversify into the new business of custodian for digital assets and consultancy in the financial and blockchain technology sector.
Clarence Chong Heng Loong, Chief Executive Officer of VC Plus said,
“We firmly believe that the transparent regulatory framework in Singapore is critical to the progressive and sustainable development of Singapore as a digital assets hub, instilling greater confidence and trust in the market.
As a listed company in Singapore, it will provide additional assurance to our customers to custodise their digital assets with us.”