QCP buying and selling, the over-the-counter buying and selling arm for Singapore-based crypto buying and selling and funding agency QCP Group, has secured a Main Funds Establishment license from the nation’s key monetary regulator.
Abstract
- QCP Buying and selling has secured a Main Cost Establishment license from Singapore’s Financial Authority.
- The approval follows an in-principle nod granted in November final 12 months.
- QCP joins OKX, Coinbase, and Bitstamp as licensed operators in Singapore.
In keeping with a Sep. 1 press launch, the Financial Authority of Singapore has granted QCP buying and selling the MPI license, which permits it to supply spot digital cost token buying and selling companies to institutional purchasers.
QCP Buying and selling was already handed the in-principle approval in November 2024, which paved the best way for full authorization following months of operational scrutiny and compliance checks beneath Singapore’s strict digital asset regulatory framework.
Nonetheless, QCP insiders take into account Singapore a key market attributable to its “forward-thinking digital asset regulation,” with CEO Melvin Deng noting that being licensed beneath MAS locations the agency in a robust place to fulfill rising institutional demand for trusted, compliant DPT companies.
Armed with the correct licensing, QCP Group stated it’s now seeking to develop its native roots with new hires throughout compliance, operations, and shopper protection. The corporate added that its staff measurement has already grown by over 40% year-on-year.
You may also like: Metaplanet Bitcoin holdings hits 20K: will it surpass Technique?
Cryptocurrency exchanges working inside Singapore are required to abide by a set of stringent licensing necessities which have steadily tightened over the previous two years.
The Financial Authority of Singapore has made clear that solely corporations which can be capable of show sturdy compliance, monetary transparency, and buyer safeguards can be granted approval to function.
Beginning June 30, 2025, the operation of unlicensed cryptocurrency exchanges in Singapore formally grew to become unlawful. The deadline has compelled corporations comparable to Bitget and Bybit, which have utilized however have but to obtain a inexperienced gentle, to reevaluate their presence within the city-state.
Regulators additionally refused to grant any transition intervals for these working on the time and insisted that license functions submitted near the deadline can be authorized solely beneath “extraordinarily restricted” circumstances.
Nonetheless, plenty of corporations have managed to fulfill regulatory expectations, with some of the latest ones being Robinhood-owned Bitstamp, which secured the correct licensing in July, and joined already licensed platforms like OKX, Coinbase, and BitGo.
In keeping with knowledge from the MAS, 34 firms, excluding QCP Buying and selling, maintain MPI licenses as of Sep. 1.
In associated information, final 12 months, the QCP group acquired an in-principle approval for its regulated digital asset enterprise from the Monetary Providers Authority Abu Dhabi International Markets. It additionally marked the primary time a cryptocurrency dealer and market maker acquired a preliminary approval within the capital of the United Arab Emirates.
Learn extra: SOL, XRP ETF momentum builds as analyst factors to ‘underestimated’ investor demand
