Propine Makes History And Graduates from MAS Regulatory FinTech Sandbox As Singapore’s 1st Independent Digital Asset Custody Provider
12 Jan 2020 — Since admission to the Sandbox in 2019, #Propine offers digital asset custody, asset servicing, trade settlement facilitation, investor reporting and services catering to global security issuers under the close eye of Monetary Authority of Singapore (MAS).
With the approval from MAS to exit the regulatory sandbox on 7 Jan, Propine has graduated successfully with the CMS Licence and is fully operational.
“Huge thanks to MAS for our successful experimentation and exiting the sandbox. Having a clear regulatory framework is of vital importance for the safe development of #securitytoken” – CEO, Tuhina Singh.
“MAS’ regulatory sandbox has provided Propine a safe space to experiment with its dual-layer multi-signatory custody solution that is blockchain-agnostic. We look forward to seeing digital asset custody solutions taking root in Singapore and abroad” – Sopnendu Mohanty, Chief FinTech Officer MAS.
“As an independent custodian for #digitalassets recognised by MAS, Propine will be able to help more enterprises and institutional investors participate in the digital assets economy” – Geoffrey Yeo, GM SEEDS Capital