European cryptocurrency exchange Bitstamp has actually made in-principle regulative approval from the Monetary Authority of Singapore (MAS).
The Major Payment Institution (MPI) license will quickly be make it possible for Bitstamp to use digital payment token services in the Southeast Asian city state, according to an emailed statement on Wednesday.
Bitstamp explains itself as the “very first crypto exchange with significant European Union (EU) existence to protect in-principle approval in Singapore.”
The last crypto exchange to acquire complete licensing in Singapore was South Korean company Upbit, which was granted its MPI license in Januaryaround 3 and a half months after getting in-principal approval
Bitstamp stated its focus in Singapore will be on serving banks and intermediaries, such as payments processors, fintechs and brokerages.