Singapore - MPl licensing requirement MAS submissions and Client asset custody

As of 2024, 61 jurisdictions require crypto licensing or registration.In Singapore, the MAS mandates a Major Payment Institution (MPI) license for Digital Payment Token service providers (DPTsp), covering custody, payments, and market making.Daily reconciliation, periodic MAS reporting, and annual audits are required.Customer assets must be segregated in trust accounts, stored in separate blockchain addresses, with 90% held in cold wallets and transactions authorized by at least two parties.