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Crypto Custody Firm Leaves Singapore's Regulatory Sandbox With License, ISO Rating
The firm exits the sandbox with what it claims is the first ISO 27001 certification for a crypto custody provider.
Propine, a Singapore-based digital asset custody provider, announced Monday it has been awarded a capital markets services license from the Monetary Authority of Singapore (MAS).
STORY CONTINUES BELOW
- 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.
- The company was admitted to the sandbox to provide digital asset custody services in November 2019.
- The firm also exits the sandbox with what it claims 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.
- “Compliant infrastructure is a bedrock on which the foundations of the security token ecosystem are created,” said Propine CEO Tuhina Singh, in reference to MAS' regulatory framework for digital assets.
- As well as custody, Propine offers digital asset servicing, trade settlement facilitation and investor reporting with a focus on institutional clients.
Read more: MAS, JPMorgan Build Payments System With Inter-Blockchain Connectivity
Tanzeel Akhtar
Tanzeel Akhtar has contributed to The Wall Street Journal, BBC, Bloomberg, CNBC, Forbes Africa, Financial Times, The Street, Citywire, Investing.com, Euromoney, Yahoo! Finance, Benzinga, Kitco News, African Business Magazine, Hedge Week, Campden Family Office, Modern Investor, Spear's Wealth Management Magazine, Global Investor, ETF.com, ETF Stream, CIO UK, Funds Global Asia, Portfolio Institutional, Interactive Investor, Bitcoin Magazine, CryptoNews.com, Bitcoin.com, The Local, The Next Web, Mining Journal, Money Marketing, Marketing Week and more. Tanzeel trained as a foreign correspondent at the University of Helsinki, Finland and newspaper journalist at the University of Central Lancashire, UK. She holds a BA (Honours) in English Literature from the Manchester Metropolitan University, UK and completed a semester abroad as an ERASMUS student at the National and Kapodistrian University of Athens, Greece. She is NCTJ Qualified - Media Law, Public Administration and passed the Shorthand 100WPM with distinction. She does not currently hold value in any digital currencies or projects.
