Triple-A, the First Digital Currency Payment Company to Be Licenced by MAS

TripleA First Digital currencies Licence by MAS

Asia’s leading digital currency payments company Triple-A has been granted a Digital Payment Token licence by the Monetary Authority of Singapore (MAS), the central bank of Singapore. Triple-A is the first Standard Payment Institution to receive this licence.

The digital currencies licence awarded to Triple-A allows the company to provide end-to-end digital currency payment services for businesses, including digital currencies payments, digital currency payouts, digital currencies remittances, and white-label digital currencies trading in the following licence categories: Digital Payment Token Services, Domestic Money Transfer Services, Cross-Border Money Transfer Services, and Merchant Acquisition Services. 

Founded by Eric Barbier in 2017, Triple-A has grown immensely since then and is globally recognized as a trusted digital payments service provider. This licence serves as a key pillar for consumers and businesses to conduct transactions with trust and security in place.

“We are elated by the news of being licenced by MAS. Singapore is one of the countries that openly support blockchain projects and digital currencies. Being granted a digital currencies licence allows us to expand digital currency access to more residents and also strengthen our positioning as a trusted and reliable digital currencies payments partner for businesses worldwide,” said Eric Barbier, CEO of Triple-A.    

With the prior licence exemption provided under the Payment Services Act, Triple-A has demonstrated its capabilities as a trusted provider complying with MAS regulations, applicable to payment institutions and digital payment token service providers. More importantly, it has created a safe and secure digital currencies payment ecosystem for businesses. Now with the digital currencies licence, the company can accelerate its efforts in reaching largely untapped markets to facilitate digital currencies payments between businesses and people globally.

In October, DBS brokerage arm and an Australian digital currencies exchange Independent Reserve were granted the digital currencies licences. MAS received over 170 licence applications from digital payment token service providers, including global digital currencies exchanges such as Coinbase and Kraken. Digital payment token service providers are regulated primarily to prevent money laundering and terrorist financing (The Straits Times, 2021). 

Most Singaporeans are positive about digital currencies, research by shows digital currencies adoption to be around 16% of its population in Singapore (which is of significant growth from early 2021 when Triple-A research shows the Singaporean digital currencies adoption to be around 9.4%). In a survey by Toluna, 93% of Singaporeans had heard of digital currencies, 59% also believed that digital currencies would reach mass adoption. 

As digital currency adoption grows globally, Triple-A aims to serve even more businesses worldwide as it truly believes that digital currencies is not going to be just a store of value but a valid alternative to traditional payment methods.

About Triple-A

Triple-A connects people with digital currency and blockchain technology. It provides end-to-end digital currencies payments services, including digital currencies payment gateway for e-commerce, retail, and PSP; digital currencies invoicing for businesses; digital currencies top-ups for digital wallets; digital currency payouts for marketplaces; digital currencies remittances for remittance providers; and white-label digital currencies trading for financial platforms.

With its easy setup, highly competitive exchange rate, and no-chargeback payment system, Triple-A enables online and offline businesses to accept digital currency payments with zero price volatility risk by converting them to local currencies in real-time. Founded in 2017, they help businesses increase their revenue by accessing the growing digital currency users (300m+) community from all over the world.

You might also be interested in...

Singapore, March 19 2024 - Users of Grab’s services will now have the option of paying in cryptocurrencies following the ride-hailing operator’s tie-up with payments firm Triple-A.

Find out more >

Sign up to our newsletter
& stay tuned!

You can unsubscribe at any time.
Read our Privacy Policy.