Coinbase, one of the largest cryptocurrency exchanges globally, has received approval from the Monetary Authority of Singapore (MAS) to operate as a digital payment token services provider.
This approval allows Coinbase to expand its operations in Asia, a region with growing demand for crypto trading and services.
The regulatory nod is part of Singapore’s efforts to become a global hub for cryptocurrency and blockchain innovation.
By obtaining the license, Coinbase can offer a broader range of services to institutional and retail investors in Singapore, including crypto trading, custody, and payment services. The company plans to further expand its footprint across Asia, catering to the region’s burgeoning interest in digital assets.
