Straits Millennium obtains IPA for SG major payment institution licence

The company will offer digital payment token services in Singapore.

Straits Millennium has obtained an in-principle approval (IPA) from the Monetary Authority of Singapore (MAS) for a major payment institution (MPI) licence.

With this, Straits Millennium will be able to offer digital payment token (DPT) services in Singapore.

Straits Millennium said that it will provide a regulated platform to facilitate the exchange of digital payment tokens and fiat currencies.

Straits Millennium is part of the Straits Financial Group, the financial services arm of the CWT Group. CWT Group provides integrated logistics and financial services.

The company operates in the United States, Indonesia, and Singapore, and plans to continue expanding into key financial and commodity markets.

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In-Principle Approval

Monetary Authority of Singapore

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