Crypto:
30336
Bitcoin:
$64.959
% 0.08
BTC Dominance:
%54.2
% 0.09
Market Cap:
$2.37 T
% 0.16
Fear & Greed:
60 / 100
Bitcoin:
$ 64.959
BTC Dominance:
% 54.2
Market Cap:
$2.37 T

European Crypto Exchange Bitstamp Gets Regulatory Nod in Singapore

Bitstamp

Bitstamp, the leading European cryptocurrency exchange, has received in-principle approval from the Monetary Authority of Singapore (MAS). This significant milestone makes Bitstamp the first crypto exchange with a major European Union (EU) presence to secure such approval in Singapore.

The approval paves the way for Bitstamp to obtain a Major Payment Institution (MPI) license, enabling the exchange to provide digital payment token services in the Southeast Asian city-state. This development was announced via email on Wednesday.

Bitstamp’s entry into the Singapore market marks a significant expansion of its services in Asia. The company’s primary focus in Singapore will be on catering to financial institutions and intermediaries, including payments processors, fintech companies, and brokerages.

Notably, the last crypto exchange to achieve full licensing in Singapore was Upbit, a South Korean firm, which obtained its MPI license in January. Upbit received its in-principal approval approximately three and a half months prior to being granted the full license.


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