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Articles, Blockchain

Coinbase, a cryptocurrency exchange, has obtained a license for processing payments in Singapore

October 2, 2023October 5, 2023By Industry News
Coinbase, a cryptocurrency exchange, has obtained a license for processing payments in Singapore

Cryptocurrency exchange Coinbase has been granted a full payments license by the Monetary Authority of Singapore, allowing it to offer digital payment token services in the country.

  • Singapore has become a hub for crypto in Asia, attracting companies from China and India.
  • Coinbase sees Singapore as a “vital market” and survey data shows that 32% of Singaporeans own or have owned crypto.
  • However, recent collapses at crypto firms have cooled enthusiasm for the industry, with Temasek cutting the pay of the team who recommended a $275m investment in now-bankrupt FTX.

Learn more: Reuters

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