Approval allows institutional crypto trading under MAS oversight following months-long application processApproval allows institutional crypto trading under MAS oversight following months-long application process

QCP Receives Major Payment Institution License in Singapore for Crypto OTC Services

2025/09/01 13:30
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QCP Receives Major Payment Institution License in Singapore for Crypto OTC Services

QCP Trading has received a Major Payment Institution license in Singapore, authorizing the firm to provide over-the-counter spot cryptocurrency trading services to institutional clients under regulatory oversight, the firm announced in a statement on Monday.

The Monetary Authority of Singapore (MAS) granted the license to QCP Trading Pte. Ltd., the OTC trading division of QCP Group, following an in-principle approval announced in November 2024. The license covers spot trading of digital payment tokens, Singapore's regulatory term for cryptocurrencies.

The approval positions QCP Trading to serve institutional demand for regulated crypto services in Singapore. The platform offers multiple currency on/off-ramp services, voice trading capabilities, API connectivity, and same-day settlement through local banking partnerships.

QCP Group founder Darius Sit said the license reflects the company's "unwavering commitment to regulatory integrity" and enables deeper integration with Singapore's financial ecosystem. CEO Melvin Deng highlighted Singapore's "forward-thinking digital asset regulation" as positioning the firm to meet institutional demand.

The licensing comes as QCP Group expands its Singapore operations, increasing headcount by 40% year-over-year with new hires across compliance, operations, and client services. The company, established in 2017, operates specialized entities for derivatives, spot trading, and structured products serving institutional and accredited investors.

QCP Group maintains its headquarters in Singapore with additional operations in Abu Dhabi.

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