Singapore Payment Service Provider Licence - Digital Payment Tokens

Under the Payment Services Act 2019 (the “PS Act”), a digital payment token (“DPT”) “is, or is intended to be, a medium of exchange accepted by the public, or a section of the public, as payment for goods or services or for the discharge of a debt" which “is not denominated in any currency, and is not pegged by its issuer to any currency” and “can be transferred, stored or traded electronically”