Switcheo, a non-custodial exchange platform, has announced that it received the FinTech certificate as a blockchain and distributed ledger expertise supplier from the Singapore FinTech Affiliation (SFA). The FinTech certificates signifies that an organization passes the qualification necessities of the Financial Authority of Singapore (MAS), which is the nation’s central bank and monetary regulator.
Different notable blockchain-oriented corporations which have obtained the FinTech certificates embrace OnChain Custodian, the Ledger pockets, Morpheus Labs, UpBit exchange, Bluzelle database service for dApps, and others.
The Singapore FinTech Affiliation (SFA) is a non-profit group that seeks to bridge corporations throughout numerous industries (e.g. blockchain, authorized companies, massive knowledge and analytics, funding platforms, and private finance administration). Alongside its relationships with companies, the SFA has greater than 50 Memoranda of Understanding (MOUs) with associations and authorities our bodies worldwide.
In a remark about establishing a thriving FinTech sector in Singapore, Ravi Menon, MAS managing director, stated, “Singapore’s FinTech journey is about innovation, inclusion, and inspiration. Everything we do in FinTech must always have a larger purpose – to improve the lives of individuals, to build a more dynamic economy, to promote a more inclusive society.”
In its Tweet asserting the SFA FinTech certificates responses, Switcheo stated, “we’re pleased to receive the FinTech certificate from the [SFA], it means a lot to us.”
The complete announcement could be discovered on the hyperlink beneath: