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Home Latest News Policy and regulation Crypto Custody Firm Leaves Singapore’s Regulatory Sandbox With License, ISO Rating

Crypto Custody Firm Leaves Singapore’s Regulatory Sandbox With License, ISO Rating

Propine, a Singapore-based digital asset custody provider, announced Monday that it has been awarded a capital markets services license from the Monetary Authority of Singapore (MAS).

According to Coindesk, the news comes as Propine graduates from the MAS FinTech Regulatory Sandbox, which allows financial institutions to experiment with new financial products under the close eye of the central bank.

In November 2019, the company was admitted to the sandbox to provide digital asset custody services. 

The company also exits the sandbox with what it alleges is the first ISO 27001 certification for a crypto custody provider. 

The ISO 27001 certification is an international standard providing a framework for preserving the confidentiality and integrity of vital data.

Propine CEO Tuhina Singh, in reference to MAS’ regulatory framework for digital assets stated that “Compliant infrastructure is a bedrock on which the foundations of the security token ecosystem are created.”

As well as custody, Propine offers digital asset servicing, trade settlement facilitation and investor reporting with a focus on institutional clients. 

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SourceCoinDesk

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