August 19, 2022 - Bhop Consulting Pte Ltd, trading as Singapore-based crypto exchange BHEX.SG, has announced that it has received the Standard Payment Institution licence from the Monetary Authority of Singapore (MAS).
This follows a detailed examination and approval process conducted by MAS. Licensees are required to meet compliance requirements to protect consumers.
The granting of the Standard Payment Institution license will enable BHEX.SG to offer DPT services to customers in Singapore.
Since BHEX.SG was founded in 2018, there have been no system accidents or fraud incidents reported in the past few cryptocurrency cycles. Continuous upgrades of system infrastructure and security risk management are implemented to mitigate any possible new threats and meet the growing demands of the industry.
BHEX.SG has also partnered with service providers across markets to focus and better serve institutional investors, family offices, accredited and high net worth investors rather than the retail investors.
Tyler Wu (Wu GuanLi), CEO of BHEX.SG, said, "Compliance is an essential element in the digital asset industry and BHEXSG is committed to being a fully compliant service provider to protect our customers. Future opportunities in the industry belong to companies that practice these values."
With Singapore being among the most competitive economies globally and serving as a regional hub, Wu also believes that Singapore plays a significant role as a financial and crypto pioneer in Southeast Asia.
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