The approval lets Cumberland SG Pte. Ltd. provide digital payment token services and cross-border money transfers in Singapore.
Cumberland said its Singapore subsidiary, Cumberland SG Pte. Ltd., has received a Major Payment Institution license from MAS (Singapore central bank and financial regulator). The license allows the company to offer DPT (digital payment token) services as well as cross-border money transfer services, expanding its regulated footprint in a key Asian crypto hub.