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Coinbase gains Major Payment Institution license in Singapore
Coinbase's Singapore arm obtained a Major Payment Institution license from the Monetary Authority of Singapore.
In a blog post published today, the crypto exchange said the development — which follows its initial In Principle Approval in the country — “amplifies our commitment to the Singapore market, enabling us to expand our provision of Digitial Payment Token services to both individuals and institutions in Singapore.” Coinbase also identified Singapore as a “vital market” for the exchange, citing Singaporeans’ statistical interest in crypto and the country’s progressive economic strategies and regulatory approach. Coinbase previously received virtual asset service provider registrations in Spain, Italy, Ireland and the Netherlands.
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