Upbit Singapore Elevates Digital Asset Scene with Major License
Upbit Singapore gains a pivotal MPI license, marking a significant stride in regulatory-compliant digital asset trading in Singapore.
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Upbit Singapore gains a pivotal MPI license, marking a significant stride in regulatory-compliant digital asset trading in Singapore.
Upbit, a major South Korean crypto exchange, now supports ASTR, leading to a notable rise in its value.
But perhaps because it is always subject to attacks, and with a $50 million exploit in 2019 looming over their heads, Upbit's approach towards security and risk is more prudent than most.
This approval allows Upbit Singapore to continue providing regulated Digital Payment Token (DPT) services to institutional investors while awaiting the full licence.
South Korean crypto exchange Upbit granted initial licence approval from the MAS for a major payment institution licence under the Payment Services Act.
Upbit fortifies security measures after enduring 159,000 network attacks in response to escalating threats.
This figure was disclosed by Dunamu, the operator of Upbit, to Park Sung-jung, a member of the National Assembly's Science, Technology, Information, Broadcasting and Communication Committee today.
The Upbit operator is under heavy scrutiny from local regulators as its total assets balloon and a subsidiary issued controversial investment advice.