SINGAPORE, Sept. 8,
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)
jstpr@mgroupsc.com
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content:https://www.prnewswire.com/news-releases/jst-digital-obtains-in-principle-approval-for-a-major-payment-institution-licence-from-monetary-authority-of-singapore-302241149.html
SOURCE JST Digital