Cumberland said its Singapore unit, Cumberland SG Pte. Ltd., has received a Major Payment Institution, or MPI, license from the Monetary Authority of Singapore. The announcement was made by the crypto trading and liquidity services firm on X. According to the company, the license allows the Singapore subsidiary to provide Digital Payment Token, or DPT, services as well as cross-border money transfer services. The update points to a regulatory approval that expands the range of payment-related activities Cumberland can carry out through its Singapore entity. No additional details were disclosed in the announcement cited in the source report.
Cumberland said in a post on X that its Singapore subsidiary, Cumberland SG Pte. Ltd., has obtained a Major Payment Institution, or MPI, license from the Monetary Authority of Singapore (MAS).
According to the announcement, the license allows the company to offer Digital Payment Token (DPT) services and cross-border money transfer services in Singapore.
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