CryptoCom will provide payment services under DPT: Singapore


Crypto.com exchange will provide payment services under the Digital Payment Token services.

CryptoCom is a leading crypto exchange, which is known to promote its crypto services in the sports industry. Right now this exchange is standing at 16th rank in terms of 24 hours trade volume contributor globally.

On June 22, CryptoCom announced through a press release that it received regulatory approval from the Monetary Authority of Singapore (MAS), which will allow the exchange to provide digital payment services under the Payment Services Act, including Digital Payment Token (DPT) services to customers in Singapore.

Earlier this exchange secured a provisional Virtual Asset MVP License from the Dubai Virtual Assets Regulatory Authority (VARA) and also planning to launch its cryptocurrency exchange service in Dubai.

In April 202, Ravi Menon, MAS managing director said that city’s licensing process is stringent as it wants to be seen as a “responsible global crypto hub.”

In the same month, On The Run (OTR) is a Convenience store and gas station, which is active mainly in Australia and Victoria, was working with CryptoCom to accept crypto-based payment for its services like gas, snacks, and even a Subway foot-long.

CryptoCom provides highly secured crypto wallet service, which is popular in the crypto industry and also in the non-crypto industry among merchants because it allows convenient crypto payment services.

CryptoCom faced security breach

On January 20, CryptoCom exchange confirmed through a blog post that the exchange faced a security breach, which resulted in a loss of $ 33.8 million worth of funds.

According to the exchange, it faced a breach in its two-factor authentication system. When the exchange comes to know about the breach the exchange instantly introduced another security layer to prohibit any suspicious transactions.

Read also: Qatar Central Bank is now “in the foundation stage” to issue CBDC


Original Article reposted fromSource link

Disclaimer: The website autopost contents from credible news sources and we are not the original creators. If we Have added some content that belongs to you or your organization by mistake, We are sorry for that. We apologize for that and assure you that this won’t be repeated in future. If you are the rightful owner of the content used in our Website, please mail us with your Name, Organization Name, Contact Details, Copyright infringing URL and Copyright Proof (URL or Legal Document) aT spacksdigital @ gmail.com

I assure you that, I will remove the infringing content Within 48 Hours.

Leave a Reply

Your email address will not be published.

Gadget

Dublin v Kerry – Preview, Stats, facts to know, betting and team news

2,001 total views, 2,001 views today Dublin v Kerry – Preview, Stats, facts to know, betting and team news. Start time is 3:30 pm Sunday. It is one of the great rivalries in football and the latest instalment will be the 32nd championship meeting between the counties since they first met in 1892. Kerry have […]

Read More
Gadget

Pinku Kult: Hex Mortis Review

Whenever I see a turn-based RPG hit the Xbox Store, I immediately expect a long-winded and complex affair. That’s one of the worries I had about Pinku Kult: Hex Mortis, as well as the fact it has creepy horror vibes. Thankfully, it’s not a drawn-out adventure by any means and things are generally straightforward enough […]

Read More
Gadget

What time is Cameron Norrie playing at Wimbledon today? Schedule and how to watch David Goffin quarter-final

Cameron Norrie faces David Goffin for a place in the Wimbledon semi-finals this afternoon as the Briton looks to continue his run at the All England Club. Norrie has reached unfamiliar ground after advancing to the second week of a grand slam for the first time in his career, and now has a golden opportunity […]

Read More