Bitstamp, a prominent European cryptocurrency exchange, has recently received in-principle approval from the Monetary Authority of Singapore (MAS) to operate within the city-state. This approval marks a significant milestone for Bitstamp, positioning it as the first crypto exchange with a major presence in the European Union (EU) to secure such acknowledgment in Singapore.
With the Major Payment Institution (MPI) license set to be finalized, Bitstamp will soon expand its offerings to include digital payment token services. This development is part of Singapore’s broader initiative to establish itself as a leading hub for financial technology and digital currencies in Southeast Asia.
Bitstamp’s strategy in Singapore is tailored towards serving a sophisticated clientele, including financial institutions, payment processors, fintech companies, and brokerages. This focus underscores the exchange’s commitment to facilitating secure and efficient digital asset transactions for corporate and institutional clients.
The approval of Bitstamp’s MPI license follows the successful licensing of South Korean crypto exchange Upbit earlier this year, highlighting Singapore’s appeal as a regulatory-friendly environment for cryptocurrency businesses. The MAS’s rigorous yet supportive regulatory framework continues to attract global crypto exchanges seeking to operate within a clear and secure legal structure.