Story Highlights

• Cumberland SG received in-principle permission for an MPI license.
•  The license will enable for regulated cryptocurrency payment services in Singapore.
•  MAS has given 29 licenses for digital payment tokens as of 2025.

Cumberland SG Pte. Ltd., the Singapore-based Asian arm of U.S.-based crypto trading company Cumberland, has received in-principle approval (IPA) from the Monetary Authority of Singapore (MAS) to have a Major Payment Institution (MPI) license. When fully licensed, the company will be able to provide regulated digital asset payment services in Singapore.

While an IPA signifies MAS’s plan to issue a license, it is not a go-ahead. Cumberland SG also has to meet some conditions before it can be issued the complete MPI license. MAS can even withdraw the IPA if there is any major issue.

Cumberland SG Edges Closer to Complete Crypto Licensing

The company states that a license will only be granted upon fulfillment of all conditions and as long as there are no negative developments. The company admitted that this license does not yet permit them to fully operate but is an important step towards expansion in Singapore’s regulated crypto space.

Singapore has become a hub for cryptocurrency firms due to its forward-thinking regulations and strong requirements for compliance. So far, up to March 2025, MAS has granted 29 licenses for digital payment tokens, and industry heavyweights such as Coinbase, BitGo, Anchorage, Gemini, and OKX are under this regime. The government has imposed more regulation following previous failures in the industry while being one of the top destinations for well-regulated digital asset companies.

Cumberland SG’s release follows weeks since the U.S. Securities and Exchange Commission (SEC) threw out its case against the company on March 4, 2025. The SEC’s case was part of a string of regulatory crackdowns on trading of unregistered securities in the crypto market. The resolution of this legal issue could strengthen Cumberland SG’s regulatory standing and simplify its expansion in Asia.

With its regulatory way clear, Cumberland SG is now ready to increase its footprint in Singapore’s crypto market. The company will take its next steps to meet MAS’s requirements for the full MPI license and launch regulated crypto payment services in the region.

The post Cumberland SG Expands in Singapore After MAS Greenlight appeared first on Live Bitcoin News.