Nature of DPT service
What does MAS consider in granting a licence to digital payment token services?
According to MAS (Parliamentary Replies)
last revised on 26 July 2021
MAS closely scrutinises all applications and considers various factors. These include the applicant’s understanding of risks relating to money laundering and financing of terrorism (ML/TF) and the technology risks posed by their business model, as well as the adequacy of controls instituted to mitigate such risks. We will reject applicants who fail to meet the required standards for ML/TF and technology risks set out in MAS' regulations and notices.
MAS will continue to closely monitor the rapid developments in the DPT services sector and will ensure that risks are effectively managed as part of the licensing and supervision process.