Straits Joins Regulated Digital Asset Wave in Singapore

Straits Millennium has secured a Major Payment Institution license from the Monetary Authority of Singapore (MAS), enabling it to provide regulated digital payment token services under the Payment Services Act 2019. This license, granted after an earlier in-principle approval, marks a significant step for the firm in expanding its role within Singapore’s growing digital asset ecosystem. The approval allows Straits Millennium to operate as a regulated platform for exchanging digital payment tokens and fiat currencies, with an emphasis on competitive execution, compliance, and institutional-grade risk management [1].

As a subsidiary of Straits Financial Group, which has a global footprint in commodities, derivatives, and financial brokerage, the license expands the group’s offerings into the digital asset space. This development enables businesses and institutional investors to access digital asset transactions through a regulated provider, aligning with the increasing demand for professional-grade digital asset exposure. Jeremy Ang, Group CEO of Straits Financial Group, emphasized that the milestone strengthens the group’s ability to offer bespoke financial services to clients, who are increasingly seeking digital assets to complement their investment and trading strategies [1].

Chew Min Wei, Head of Digital Assets at Straits Millennium, noted that the firm’s established relationships with traditional finance clients will now be extended to the digital asset market. The company is applying its client-centric approach to digital asset services, leveraging its existing expertise in derivatives and commodities. This move underscores the broader trend of traditional financial institutions integrating digital assets into their service portfolios as regulatory frameworks mature [1].

The license also reflects the growing institutionalization of the digital asset market in Singapore. With MAS’s forward-looking regulatory approach, firms like Straits Millennium are positioned to meet the demand for regulated OTC trading services, which has been a growing sector in the region. The firm’s platform offers features such as competitive trade execution and compliance with industry best practices, positioning it as a strong contender in a market where institutional-grade services are increasingly in demand [1].

CWT International Limited, the parent company of Straits Millennium, highlighted that the license enhances its ability to bridge traditional financial services with emerging digital assets. By doing so, the firm is better equipped to meet evolving client demands in a rapidly changing financial landscape. This strategic expansion into digital assets aligns with broader market trends, where regulatory clarity and institutional adoption are converging to reshape the digital asset industry [3].

Source: [1] Straits Millennium Cleared by MAS to Provide Crypto ... (https://fintechnews.sg/116952/digitalassets/straits-millennium-singapore-license-2/) [2] QCP Receives Major Payment Institution License in ... (https://www.blockhead.co/2025/09/01/qcp-receives-major-payment-institution-license-in-singapore-for-crypto-otc-services/) [3] CWT International Secures Major Payment Institution License (https://www.tipranks.com/news/company-announcements/cwt-international-secures-major-payment-institution-license)