Coinbase Obtains Major Payment Institution License to Expand Operations in Singapore

Coinbase obtains major regulatory approval from the Monetary Authority of Singapore, allowing it to expand digital payment token services in the country. Learn more about Coinbase's expansion in Singapore.

Posted 7 months ago in Blockchain

A beautiful skyline of Singapore

United States-based cryptocurrency exchange Coinbase has obtained a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS), allowing it to expand its digital payment token services in the country. This comes one year after Coinbase's initial in-principle approval in Singapore. With the new license, Coinbase can now offer its services to individuals and institutions in Singapore without being subjected to transaction limits.

The company has been actively developing products and services for the Singaporean market, including launching PayNow and FAST bank transfers and integrating Singapore's digital identity service, SingPass. Coinbase has also collaborated with local blockchain firms to expand its product offerings.

Last updated 10/2/2023, 2:31:05 AM


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