Sparrow, a digital assets trading platform, announced that it has obtained a Major Payment Institution (MPI) licence from the Monetary Authority of Singapore (MAS). The licence now allows Sparrow to provide digital payment token (DPT) services in the city-state. Sparrow was founded in 2018 and it offers a range of digital asset solutions including payment transactions for institutional and high-net-worth clients who buy and sell cryptocurrencies using fiat on its trading platform. The MAS has adopted a rigorous regulatory approach and thus far, only a select few digital payment token firms have been licensed.
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