XREX, the Coolest Crypto Exchange in Asia, Scores In-Principle Approval for Major Payment Institution License in Singapore – The Hottest News in the Blockchain World!

XREX, a Leading Crypto Exchange in Asia, Receives In-Principle Approval for Major Payment Institution License in Singapore

On November 16, XREX, the cryptocurrency exchange that’s all about cross-border payments, achieved something big. The Monetary Authority of Singapore (MAS) gave them a virtual high-five by granting them an in-principle approval for a Major Payment Institution (MPI) license. This license puts XREX in the prestigious club of compliant and regulated players in the digital asset space.

MAS deserves a round of applause for creating a regulatory framework that’s progressive and robust. It’s like they built a sturdy house for digital assets, so everyone in Singapore can play safely. And XREX’s approval is like the VIP pass to that digital asset house party. They proved they’re responsible, and now they’re among the approved digital asset entities, rubbing shoulders with Coinbase, DBS Vickers, Circle, Paxos, Ripple, and Revolut.

But let’s not forget about XREX Singapore’s CEO, Christopher Chye. He’s singing MAS’s praises and promising to make things better and cheaper for businesses in Singapore and emerging markets. He’s like the superhero of low-cost, secure, and speedy payments. Move over, Spiderman! Here comes Chyeman!

And that’s not all. Once XREX gets the full MPI license, they’re going to unleash their crypto-friendly escrow payment tool, BitCheck. It supports all sorts of currency, from regular old money to stablecoins and cryptocurrencies. It’s like a Swiss Army knife for your payments, ready to tackle any transaction.

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XREX isn’t just bridging the gap between blockchain finance and traditional finance—they’re building a whole dang bridge! With this regulatory approval, they’re attracting major banks, credit card institutions, and payment service providers. They’re the cool kid bringing everyone together, like the host of the world’s wildest finance party. You can tell they mean business when they mention stuff like account issuance, money transfers, merchant acquisition, e-money issuance, and digital payment token services.

Now, Chye is setting his sights on the neighboring emerging markets. He wants to make sure they have access to the same financial opportunities as everyone else. It’s like he’s the Robin Hood of the financial world—stealing liquidity from the rich and giving it to the needy.

This is a milestone for XREX, and they’re not just celebrating in Singapore—they’ve also caught the attention of Taiwanese regulators. They’re like the superstar of digital asset entities, approved and recognized in more than one country. And considering how many applications MAS received, being among the chosen few is a big deal. It’s like winning the lottery, except instead of cash, you win the trust and support of regulators.

Singapore may have faced some challenges in the crypto world, but they’re not backing down. They’re making friends with crypto firms left and right. MAS gave Coinbase the full MPI license, and Circle got one too. It’s like a game of Monopoly, and Singapore is collecting all the digital asset properties on the board.

So here’s to XREX, the cross-border payment heroes, and MAS, the guardians of digital asset regulation. Together, they’re creating a world where everyone can use digital assets with confidence and ease. Cheers!

PS: What do you think about XREX’s achievement? Are you excited to see more crypto-friendly payment solutions? Let us know in the comments below!

Original Content Source:Blockchain News on XREX’s approval

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