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MetaComp can now provide regulated digital cost token providers to its clients in Singapore having obtained a licence from the Financial Authority of Singapore (MAS).
The MAS has granted a licence to MetaComp to supply digital cost token providers as a significant cost establishment. The licencing falls below the regulator’s Cost Providers Act.
MetaComp’s licence permits it to supply end-to-end digital asset providers to company, conventional and crypto-native institutional traders.
Bo Bai, govt chairman and co-founder of MetaComp, confirms his perception within the potential of tokenisation. Its applicability ranges from enriching monetary inclusion to amplifying the integrity of inexperienced finance initiatives.
“This can be a view that the MAS has equally held,” says Bai. “That is evidenced by the regulatory frameworks positioning Singapore as a hub for digital asset innovators.”
The most recent licensee
MetaComp presents a cloud-based digital asset alternate powered by the Nasdaq buying and selling engine.
Compliant with the Monetary Motion Activity Drive (FATF) KYC/AML frameworks, MetaComp permits accredited and institutional traders to enter the digital market with confidence. MetaComp straddles the worlds of conventional finance throughout non-public fairness, hedge funds and digital property.
MetaComp’s efforts to drive token innovation are supported by the licences of its mum or dad firm MetaVerse Inexperienced Trade (MVGX).
MVGX is a digital inexperienced alternate. It holds the Recognised Market Operator Licence and Capital Market Service Licence below Singapore’s Securities and Futures Act.
The licences allow MVGX to deal in securities and collective funding schemes and supply custodial providers.
Beneath its Capital Market Service Licence, MVGX additionally conducts dealings in over-the-counter (OTC) derivatives and exchange-traded derivatives. This additional enhances the agency’s total monetary choices.
Collectively, each entities are in a position to provide publicity to tokens backed by real-world property. This contains tokens backed by mental properties, provide chain financing, and carbon credit within the type of the carbon neutrality token (CNT).
The CNT leverages the corporate’s proprietary protocols and blockchain know-how to facilitate cross-border buying and selling of carbon voluntary emission discount credit.
“In recent times, we’ve witnessed the fast growth and maturation of the digital property ecosystem,” continues Bai.
He explains that MetaComp seeks to function a compass guiding institutional traders and companies of their long-term digital asset funding journey.
Bai describes the regulatory help of MAS as “important in imbuing even larger belief and integrity in Singapore’s home digital asset business.”
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