At Circle, we have always been committed to pushing the boundaries of what is possible in the world of digital currencies. Today, we mark a pivotal step towards enhancing the accessibility and utility of digital currencies in Asia Pacific — Circle Mint is now available in Singapore.
A Closer Look at Circle Mint in Singapore
Following Circle Singapore’s receipt of a Major Payments Institution (MPI) license from the Monetary Authority of Singapore (MAS) in June 2023, we are proud to introduce Circle Mint under our MPI license in Singapore.
Circle Mint in Singapore adheres to MAS regulations, with a goal of ensuring compliance and reliability for our customers in Singapore and serving as a trusted gateway to the world of digital currencies.
With Circle Mint in Singapore, customers with Singapore-registered entities can expect a host of benefits including:
- No minting fees
With zero fees to mint or redeem USDC, Circle Mint in Singapore cuts out the added risk, extra fees and long transaction times associated with brokers and resellers.
- Instant Availability
Fiat funds from a user’s bank account can be converted instantly and automatically to USDC (depending on the participating banks’ instant settlement networks). In the future, Circle Mint in Singapore will offer expanded access to regional banking rails for near-instant settlement, allowing customers to conduct transactions with ease.
- Compliance to MAS Regulations
Circle Mint in Singapore is tailored to align seamlessly with MAS’ regulations, ensuring financial activities are both efficient and secure.
As digital currencies are gaining ground within Asia Pacific, Circle Mint Singapore makes digital currencies more accessible for businesses in the region.
Stay tuned for more updates as we continue to share the future of finance!
About Circle Internet Singapore Pte. Ltd.
Circle Internet Singapore Pte. Ltd. (Circle Singapore) is an affiliate of Circle Internet Financial, LLC (Circle) based and incorporated in Singapore. Circle Singapore is licensed to provide digital payment token services, cross-border money transfer services, and domestic money transfer services under the Payments Services Act 2019, as amended.
About Circle Mint
Circle Mint and money transmission services are provided by Circle Internet Financial, LLC. Circle Internet Financial, LLC, NMLS # 1201441, is a licensed provider of money transmission services. A full list of Circle’s licenses can be found here.
Circle is not a bank; Circle Mint is not a bank account, and any funds are not insured by the Federal Deposit Insurance Corporation, the Securities Investor Protection Corporation or by any US or foreign government agency, insurance fund, person or entity.