.Circle obtains major Singapore license as US SEC cracks down on its competitors Circle raagulanpathy
With this license, Circle is authorized to offer local clients domestic money transfers and cross-border money transfers, as well as its Circle Account, a product that enables USD Coin usage for corporate clients.
Jeremy Allaire, co-founder and CEO of Circle, stressed the paramount importance of this milestone for the progress of his products on new markets in Asia: It should be noted that Circle scored In-Principle Approval as a Major Payment Institution License holder from MAS seven months ago, in late November 2022.This announcement sounds impressive amid new regulatory attacks by the U.S. watchdog. In recent days, the U.S. SEC announced that it sued Binance and Coinbase for offering unregistered securities to American citizens.
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