MAS revokes Bsquared Technology's DPT licence over compliance breaches and misleading information
mas.gov.sg •
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Promote with Leviathan NewsMAS revoked Bsquared Technology Pte Ltd's Major Payment Institution licence effective May 14, ending its ability to provide digital payment token services in Singapore under the Payment Services Act. BSQ was only licensed on Jan. 1, 2025, but MAS says a 2025 onsite inspection found serious risk-management, conflict-policy, and outsourcing failures, plus false or misleading information from the licence application through the inspection. MAS says BSQ's activity was limited and it reported no outstanding customer money or assets, but the regulator is requiring an auditor closure certificate and reviewing key officers.
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