The following 49 entities have been exempted from holding a license under the 2019 Payment Services Act (PS Act) to provide digital payment token services. The participants include a variety of entities:
- 18 custodial entities
- 2 market makers
- 13 blockchain platforms
- 2 blockchain gaming platforms
Congratulations to all the participating entities! This milestone highlights Singapore’s growing interest as a Web3 hub and will promote job opportunities in the field.