Singapore-based payment institution FOMO Pay has joined the DBS Digital Exchange (DDEx) as a member on Dec 14.
FOMO Pay, which was granted the first digital payment token (DPT) service license by the Monetary Authority of Singapore (MAS), is among the first DPY licensees to join the DDEx as a member.
As part of the DDEx ecosystem, FOMO Pay adds that it intends to leverage its institutional-grade digital custodian and exchange services supported by DBS Bank to enable its merchants to accept payments in cryptocurrencies and keep their funds safe.
"With our efforts in building a comprehensive and compliant digital payment solution, we will be able to help our merchants adopt and accept crypto payments from their customers in a safe and risk-free manner. Ultimately, this will lead to greater assurance and adoption of crypto as a form of payment method that will fit into Singapore's vision to be a global crypto hub," says Louis Liu, founder and CEO of FOMO Pay.
