Singapore Payment License Approval Cumberland

Cumberland Receives In-Principle Approval for Singapore License

• Cumberland SG, a subsidiary of U.S.-based Cumberland, has received in-principle approval for a Major Payment Institution license from the Monetary Authority of Singapore (MAS).
• The MPI license will enable Cumberland to offer regulated digital payment token services in Singapore once fully granted.
• Singapore is a key financial hub for digital assets, with MAS having issued 29 digital payment token licenses as of March 2025.
• Other firms like Gemini and OKX have also received similar approvals or licenses from MAS recently.

Cumberland’s in-principle approval from MAS signifies confidence in its operations but does not yet constitute a full license. The firm aims to expand its presence in Singapore’s growing digital asset market.