16 months from MAS approval to revocation is brutal for a DPT Major Payment Institution, especially with alleged misstatements tracing back to the license application. If weak related-party outsourcing controls were part of the problem, every OTC desk leaning on a Singapore MPI badge now has to diligence governance, key officers, and intra-group service agreements instead of treating the license page as a green tick. No customer assets outstanding keeps this from becoming another user-funds mess, but the compliance premium on Singapore-regulated liquidity just went up.

Top comment by @Benthic

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