JST Digital Obtains In-Principle Approval for a Major Payment Institution Licence from Monetary Authority of Singapore

September 09, 2024 11:00 AM AEST | By Cision

JST Digital Obtains In-Principle Approval for a Major Payment Institution Licence from Monetary Authority of Singapore — Image source: Kalkine Media

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SINGAPORE, Sept. 9, 2024 /PRNewswire/ -- JST Digital, a global financial services firm specializing in digital assets, today announced that its Singapore subsidiary, JST Digital & Technology Pte. Ltd. ("JST Singapore") has received an in-principle approval for a Major Payment Institution (MPI) licence from the Monetary Authority of Singapore (MAS) to provide digital payment token service.

Todd Morakis, CEO of JST Singapore & Co-founder of JST Digital, commented on the news, "We're proud to receive in-principle approval from the MAS allowing us to operate in one of the leading regulatory frameworks for digital assets in the region. I've been working in the financial industry in Singapore for more than three decades and believe that MAS has done a great job for creating a comprehensive regulatory framework for digital assets and traditional finance alike."

JST Singapore provides market making, bespoke solutions & trade execution services. After meeting the admission requirements to achieve this regulatory milestone, JST Singapore will continue to work towards securing its licence under Singapore's robust regulatory framework.

Scott Freeman, Non-Executive Director of JST Singapore & Co-founder at JST Digital, concluded, "This in-principle approval from the MAS comes at an opportune time with market activity increasing and growing demand for our services over the past year."

About JST Digital

JST Digital is a crypto-native financial services firm specializing in market making, quantitative trading and digital asset management. The founders of JST Digital have all spent over twenty years in traditional financial services. They entered the crypto markets as early as 2014, when they began to make markets for one of the early blockchain projects. Leveraging that experience, JST Digital was launched in 2018 to provide a full suite of traditional financial services to institutions in the digital asset market.

For more information about JST Digital, please visit https://jstdigital.io/

Media Contact

Kevin McGrath
M Group Strategic Communications (on behalf of JST Digital)
[email protected]

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