Circle Mint in Singapore To Launch With Seamless Transactions and Zero Fees

Key Points:

• Circle introduces Circle Mint in Singapore, aligning with MAS regulations for reliable digital currency transactions.
• Singapore entities enjoy zero USDC minting fees, instant fiat-to-USDC conversion, and seamless compliance with MAS rules.
• Circle Mint in Singapore facilitates digital currency access for businesses in the Asia Pacific, emphasizing compliance and user-friendly features.

Circle Singapore has unveiled Circle Mint, operating under its newly acquired Major Payments Institution (MPI) license granted by the Monetary Authority of Singapore (MAS) in June 2023.

Circle Mint in Singapore Launched, Redefining Digital Currency Transactions

Positioned as a trusted gateway to the world of digital currencies, Circle Mint in Singapore is meticulously crafted to comply with MAS regulations, prioritizing compliance and reliability for its Singaporean clientele.

Under the MPI license, Singapore-registered entities stand to benefit from a range of features. Circle Mint in Singapore eradicates minting and redemption fees for USDC, eliminating additional risks, extra charges, and protracted transaction times commonly associated with brokers and resellers.

Fiat funds in user bank accounts undergo swift and automated conversion to USDC, contingent on participating banks’ instant settlement networks. Future plans include expanding access to regional banking rails and facilitating near-instant settlement for seamless transactions.

Circle Mint’s Key Benefits Under MAS Compliance

Tailored to seamlessly align with MAS regulations, Circle Mint in Singapore ensures that financial activities are not only efficient but also secure, providing users with confidence and peace of mind.

As digital currencies gain prominence in the Asia-Pacific region, Circle Mint in Singapore emerges as a catalyst, making these currencies more accessible for businesses in the area. Previously, Circle sent emails to customers stating that individual consumer accounts would not be supported by Circle Mint.

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