{"id":73038,"date":"2024-03-06T19:23:05","date_gmt":"2024-03-06T23:23:05","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=73038"},"modified":"2024-03-06T19:24:24","modified_gmt":"2024-03-06T23:24:24","slug":"bitstamp-secures-provisional-crypto-license-in-singapore","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/bitstamp-secures-provisional-crypto-license-in-singapore\/","title":{"rendered":"Bitstamp Secures Provisional Crypto License in Singapore"},"content":{"rendered":"\n

The Monetary Authority of Singapore<\/a> (MAS) has awarded Bitstamp an in-principle approval for a Major Payment Institution License. <\/p>\n\n\n\n

\"Bitstamp
Bitstamp Secures Provisional Crypto License in Singapore<\/figcaption><\/figure>\n\n\n\n

Bitstamp, a cryptocurrency exchange<\/a>, has been given a provisional license by the Monetary Authority of Singapore (MAS) as it continues to grow its worldwide reach and presence in Asia. <\/p>\n\n\n\n

According to a statement, the company was granted the much sought-after Major Payment Institutional accreditation, which permits it to provide Digital Payment Token services throughout the Republic of Singapore.<\/p>\n\n\n\n

With this accomplishment, Bitstamp became the first cryptocurrency exchange based in Europe to be approved in Singapore. Furthermore, the platform has received regulatory approval in over 50 jurisdictions across the globe, including the United States and the United Kingdom<\/a>. General manager of Bitstamp APAC, Leonard Hoh said:<\/p>\n\n\n\n

\n

“Singapore has been welcoming towards players in the digital assets space and we plan to operate as a locally licensed exchange to continue our growth as a trusted venue for market participants in the region”<\/p>\n<\/blockquote>\n\n\n\n

Not only does Singapore have a pro-crypto regulatory environment, but it is also a center for regional cryptocurrency adoption and activity. Over 57% of financially astute locals, according to Coinbase data, are invested in cryptocurrency. <\/p>\n\n\n\n

Staking services are also of great interest to users, as previously reported. Leonard Hoh, general manager of Bitstamp's APAC operations\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>, stated that the action aligns with the need to encourage creative legislation that may serve as the foundation for emerging nations' next big economic boom. <\/p>\n\n\n\n

Hoh said that the cryptocurrency exchange is positioned as a reliable infrastructure supplier to help the area's widespread adoption of digital assets get off the ground. General Manager of Bitstamp APAC, Leonard Hoh added:<\/p>\n\n\n\n

\n

“Singapore was a first mover when it came to establishing a regulatory framework for crypto exchanges and we see that leadership continuing to cement Singapore's future as a centre for the digital assets ecosystem and its convergence with the broader financial services sector.”<\/p>\n<\/blockquote>\n","protected":false},"excerpt":{"rendered":"

The Monetary Authority of Singapore (MAS) has awarded Bitstamp an in-principle approval for a Major Payment Institution License. Bitstamp, a cryptocurrency exchange, has been given a provisional license by the Monetary Authority of Singapore (MAS) as it continues to grow its worldwide reach and presence in Asia. According to a statement, the company was granted […]<\/p>\n","protected":false},"author":43,"featured_media":73040,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[11407],"tags":[1672,9190,931],"class_list":["post-73038","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency-exchange","tag-bitstamp","tag-crypto-license-2","tag-singapore"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2024\/03\/croc_1709763969143.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/73038","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/43"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=73038"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/73038\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/73040"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=73038"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=73038"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=73038"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}