GENESIS SECURES MAS IN-PRINCIPLE APPROVAL FOR MAJOR PAYMENT INSTITUTION LICENCE

KUALA LUMPUR, June 24 (Bernama) -- Genesis, a digital asset prime brokerage, announced that Genesis Asia Pacific Pte Ltd (Genesis Asia Pacific) has received in-principle approval by the Monetary Authority of Singapore (MAS) for a Major Payment Institution licence.

This makes Genesis Asia Pacific one of a handful of Singapore-based digital payment token service providers who have received such in-principle approval, according to a statement.

“MAS has been very transparent and engaged throughout the application process and we appreciate its commitment to prudent and constructive oversight of the industry,” said CEO of Genesis, Michael Moro.

Genesis offers sophisticated market participants a fully integrated platform to trade, borrow, lend, and custody digital assets, creating new opportunities for yield while increasing capital efficiency for counterparties.

Since its founding in 2013, Genesis has aimed to provide institutional investors worldwide with access to industry-leading products and services that address an evolving global regulatory framework.

-- BERNAMA