Propine, a Singapore-based end-to-end securities services company that provides digital securities services for institutional investors, is the first independent digital asset custody service provider to graduate from the Fintech Regulatory Sandbox of the Monetary Authority of Singapore (MAS). became.
Providing an independent digital asset storage service since joining the sandbox In November 2019, Propine will bring the latest financial markets and services across digital asset storage, asset services, transaction settlement facilitation, investor reporting, and global security issuers under MAS supervision. We provide a wide range of services that adapt to regulatory trends.
With approval from MAS to terminate the regulatory sandbox, Propine has successfully graduated with a CMS license and is now fully functional.
“Thanks to MAS for the success of the experiment and the end of the regulatory sandbox. Having a clear regulatory framework is very important for the secure development of security tokens. Hesitant but enthusiastic institutions will be able to participate in tokenization. Compliant infrastructure is the bedrock that lays the foundation for the security token ecosystem. ”
Said Tuhina Singh, CEO of Propine.
“We work with MAS and other regulators to stay on top of market trends, lead the setting of market standard practices and the development of ecosystems, ensuring service transparency and activities. Make it compliant with the service. Approved. “
Sopnendu Mohanty, Chief FinTech Officer at MAS, said:
“The digital asset ecosystem, backed by financial technology and innovation, is growing at an accelerating pace in the financial industry. We protect these digital assets effectively and efficiently so that we can maintain confidence in this ecosystem. And service is important.
The MAS Regulatory Sandbox provided Propine with a safe space to try out blockchain-agnostic dual-layer multi-signature custody solutions. We look forward to establishing digital asset storage solutions in Singapore and abroad. “
A digital securities company that graduated from MAS FinTech Sandbox
Source link A digital securities company that graduated from MAS FinTech Sandbox