Last Updated on October 2, 2023 by Bitfinsider
The Monetary Authority of Singapore (MAS) has granted Coinbase a Major Payment Institution (MPI) license.
According to the crypto exchange, the license would allow it to provide better services to both individuals and institutions.
This milestone follows Coinbase’s receipt of In-Principle Approval (IPA) last year, emphasizing the company’s commitment to the Singapore market.
Coinbase highlighted the region’s crypto-friendly atmosphere, stating that “25% of surveyed Singaporeans view crypto as finance’s future, with 32% currently or previously owning crypto.”
The exchange’s presence in Singapore is supported by a number of activities, including strategic investments through Coinbase Ventures, cooperation with regional partners like as Nansen.ai, sponsorship of Ethereum Singapore, and the organization of university workshops.
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