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).
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.