The Monetary Authority of Singapore (MAS) has revoked Bsquared's Major Payment Institution Licence, 16 months after the company was authorized to provide digital payment token services in Singapore. According to NS3.AI, the decision followed an on-site inspection that revealed inadequate risk management and conflict-of-interest controls. Additionally, Bsquared was found to have violated outsourcing guidelines. MAS also reported that the firm provided false or misleading information on several occasions. Bsquared is now required to submit a closure certificate verified by an auditor.