Digital assets trading platform Sparrow has received a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS) to provide Digital Payment Token (DPT) services in the city-state.
In June 2022, Sparrow obtained an In-Principle Approval (IPA) from MAS, following their MPI license application.
MAS has adopted a rigorous regulatory approach. As such, only a few digital payment token firms have been licensed.
