Coinbase Secures Major Payment License from Singapore Authority

by | Feb 22, 2024 | Latest News, Market News | 0 comments

Latest News

Latest News

View more

Coinbase Singapore proudly publicizes the acquisition of a Major Payment Institution (MPI) license from the Monetary Authority of Singapore, marking a vast step in our commitment to the Singaporean marketplace. This license allows us to enlarge our Digital Payment Token services for both individuals and institutions in Singapore.

In line with our global challenge and focus on clear regulation, innovation, and user consider, this improvement is specifically big. With 25% of surveyed Singaporeans seeing crypto because the future of finance and 32% having owned or currently owning cryptocurrencies, Singapore has emerged as a essential market. The presence of over seven-hundred Web3 organizations further solidifies its importance within the crypto and Web3 economies.

Singapore as a Priority Market

From our preliminary engagement in Singapore, we diagnosed its strategic importance. The kingdom’s revolutionary financial techniques and regulatory method align flawlessly with our dreams. To cater to the vicinity’s specific demands and specific marketplace dynamics, we’ve got added tailor-made products and services.

Earlier this year, we introduced handy investment alternatives such as PayNow and FAST bank transfers, alongside an more advantageous onboarding process integrated with SingPass, Singapore’s relied on digital identification. We additionally facilitated no-fee USDC purchases with SGD to simplify crypto access for our Singaporean clients.

Read Also:  Moscow Exchange Crypto Futures: Qualified Investors

Growing the Regional Cryptoeconomy

Our commitment extends beyond product services to assist the broader Web3 surroundings in Singapore. This includes projects like schooling and hiring at our Singapore tech hub, collaboration with enterprise associations which include ACCESS, the Singapore Fintech Association, and the Blockchain Association of Singapore, and area-precise investments thru Coinbase Ventures, with over 15 investments rooted in Singapore.

We actively have interaction with the neighborhood developer community and key companions, such as Nansen.Ai, Blockdaemon, and Infura. Innovative solutions like our Base blockchain and Wallet-as-a-Service have played a pivotal role. We also preserve a sturdy presence in the network via sponsorships of Ethereum Singapore and workshops at esteemed universities like the National University of Singapore, Singapore Management University, and Nanyang Technological University.

Commitment to Reshaping Finance

At Coinbase, our center belief is in reshaping the economic panorama by way of imparting relied on merchandise that sell the software and adoption of crypto. We view blockchain and crypto technologies as catalysts for international monetary freedom and opportunities. Many international markets are crafting modern regulations to end up crypto hubs, and our achievements in Singapore align with this imaginative and prescient.

The newly received MPI license no longer most effective validates Coinbase’s operations however also indicates our dedication and duty to the growing crypto and Web3 network in Singapore.

As part of our international growth, we prioritize working with regulators in key nations. Over the past 12 months, we have completed VASP registrations in Spain, Italy, Ireland, and the Netherlands. The Monetary Authority of Singapore, regarded for its sophistication in Web3 regulation, sticks out as one of our valued regulatory partners.

Read Also:  XRPL 3.4.1 Security Update: What XRP Holders Need to Know

Looking ahead, we’re obsessed with contributing to and developing alongside the crypto and Web3 network in Singapore.

0 0 votes
Article Rating
Subscribe
Notify of
guest
0 Comments
Oldest
Newest Most Voted

Web Stories

XRP Treasury Company Evernorth Closes Armada Merger Ahead of Nasdaq Listing

XRP treasury company Evernorth closes its Armada merger with 473 million XRP and $300M in cash ahead of its Nasdaq listing under ticker XRPN.

Read Also:  XRPL 3.4.1 Security Update: What XRP Holders Need to Know

Blockchain Seeks CFTC Licenses to Launch U.S. Prediction Market Exchange

Blockchain applies for CFTC licenses to launch a regulated prediction market and crypto derivatives trading venue for U.S. customers.

Read Also:  Stablecoin Reserve Transparency: How to Check Backing

Blockchain.com Seeks US Derivatives Registrations to Shift from Reseller to Exchange

Blockchain.com has filed for registrations to shift toward operating its own US derivatives exchange rather than relying on external product providers.

Read Also:  Circle Arc Mainnet: 5 Powerful Changes for Stablecoin Payments

Blockchain Seeks CFTC Approval to Expand Into US Prediction Markets

Blockchain seeks CFTC licenses to launch US prediction markets and derivatives, expanding beyond its foreign partnerships into direct domestic markets.

Read Also:  Bitcoin Surges Above $86K: September 2026 Rally

Dogecoin Upgrade Faces Skepticism as Shiba Inu Precedent Looms

As the planned Dogecoin upgrade prepares smart contracts, Shiba Inu’s Shibarium history shows why technology alone rarely drives token price gains.

Read Also:  Moscow Exchange Crypto Futures: Qualified Investors

Cardano Founder Slams Vitalik Buterin Over Crypto Security Warnings

Cardano founder Charles Hoskinson criticized Vitalik Buterin over crypto security warnings involving AI threats to lattice-based cryptography.

Read Also:  Stablecoin Reserve Transparency: How to Check Backing

Utility-Driven DApps Face 2026 Trial Against Web2 Competition

With mature crypto infrastructure, utility-driven DApps face a decisive 2026 test to retain everyday users and compete with Web2 scale.

Read Also:  Crypto Market Jumps 5%: September Recovery

Altcoin Season Stalls as SOL, TON and XRP Plunge Amid Liquidations

Altcoin season faces a sharp halt as SOL, TON and XRP drop amid thin liquidity and over $200 million in long liquidations.

Read Also:  Tokenized Treasury Funds: Government Debt On-Chain

Perpetual DEX Architecture Faces Regulatory Scrutiny as Hyperliquid Tops $1B Revenue

Hyperliquid hits $1 billion in cumulative revenue as the perpetual DEX industry navigates emerging regulatory standards and onshore rules.

Read Also:  Crypto Dusting Attacks: Protect Your Wallet Privacy

Latest News