We are delighted to congratulate our partner OSL Singapore for being certified by the Singapore FinTech Association as a blockchain, digital asset and financial inclusion provider. This is a qualification recognised by the Monetary Authority of Singapore (MAS).
We’ve been cooperating with OSL since 2018. OSL is a leading firm in crypto asset management in Asia. As their partner, at Scorechain we love to closely follow milestones and could not be prouder of such achievement.
Scorechain presence in Asia is growing since more and more crypto-related businesses in this region need to fulfil their compliance requirements. We strive to bring further trust and safety to crypto markets with our advanced cryptocurrencies AML & transaction monitoring solution.
State of Singapore Regulation for crypto businesses
The new Payment Services Act in Singapore came into effect on Jan. 28 2020. The new rules put crypto services under the supervision of the Monetary Authority of Singapore. The PS Act regulates cryptocurrency payments and trading enterprises under some aspects of the regulatory regime that currently governs traditional payment services, it requires crypto-related firms to apply for operating licenses such as a money-changing license, a standard payment institution license and a major payment institution license. Besides, Crypto payment services must comply with the Financial Advisers Act, Securities and Futures Act, Insurance Act and the Trust Companies Act.
OSL (http://osl.com), member of BC Group (https://bc.group), is Asia’s leading comprehensive digital asset platform, providing Software-as-a-Service, brokerage, exchange and custody services for institutions and professional investors.
Scorechain serves 150+ businesses in 28 countries and it is trusted by worldwide leading companies in cryptocurrency and traditional finance ecosystems.
Operated since 2015 in Luxembourg, the company has established its reputation among the market leaders showing software robustness, the best data naming coverage and accuracy, and transparent and comprehensive risk assessment methodology.
The Scorechain team keeps improving the software with new compliance features to tailor market needs and adapt to each company’s unique internal controls.
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