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440A compares the current regulations around virtual asset service providers (VASPs) or digital payment token (DPT) providers in Singapore and Hong Kong, and the outlook on the regulatory environment.
Contactless payment methods have really taken off for businesses and consumers during the course of the pandemic.
Singapore’s digital payments market is expected to grow. Digital payments or e-payments in Singapore have grown by more than 20% in 2020 from the previous year, to more than S$20bn (US$14.9bn) in total transacted value.