Digital asset trading secured by QCP Trading with MAS license
QCP Trading, a subsidiary of QCP Group, has secured a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS). This license authorises QCP Trading to provide institutional-grade digital asset services, marking a significant milestone in the company's growth.
Headquartered in Singapore, QCP Trading also maintains a regional presence in Abu Dhabi. The company's offerings include multi-currency on- and off-ramping, voice trading, API connectivity, and same-day settlement, designed to meet the evolving needs of institutional investors seeking seamless access to digital assets within a secure and compliant environment.
Darius Sit, the Founder of QCP Group, made a statement about the MPI license, emphasizing QCP Group's commitment to regulatory integrity and its mission to build a trusted institutional trading platform in digital assets. The statement also mentioned the potential to deliver compliant and seamless services to clients across the region and globally.
The approval follows the firm's in-principle clearance in November 2024. In response to the news, QCP Group has expanded its local workforce by nearly 40% year-on-year, with new hires made across compliance, operations, and client coverage.
The MPI license is said to enable QCP Group to deepen its roots in Singapore's financial ecosystem. While specific partner companies for institutional digital currency trading in Singapore are not publicly listed in the available sources, it is clear that QCP Trading's strategic positioning and regulatory compliance will position it well for future collaborations.
In conclusion, the acquisition of the MPI license by QCP Trading signifies a significant step forward in the company's journey towards becoming a leading player in the digital asset space. As the demand for digital assets continues to grow, QCP Trading is poised to provide institutional clients with a secure and compliant platform for trading digital payment tokens.
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