Great news from the Monetary Authority of Singapore (MAS)! We’ve just received the In-Principle Approval (IPA), a crucial step towards obtaining our Major Payment Institution license.
IPA paves the way for us to provide digital payment token services in Singapore, all in compliance with the republic’s Payment Services Act. It’s a significant strategic move that reflects our commitment to compliance and supporting the growth of the evolving global landscape.
Strengthening our global strategy
Our primary focus within Singapore will be on serving institutions including intermediaries such as payment processors, fintech companies and brokerages.
This approval comes at an exciting time for the market, with this year seeing the implementation of the European Union’s (EU) MiCA framework and the and the approval of Bitcoin ETFs in the US.
We’re confident about our proposition for institutional and retail customers we serve in the Asia-Pacific region, with Singapore at the core of our strategy.
Compliance and regulation at the heart of all operations
Bitstamp received its first license in 2016 in Luxembourg. Today, we hold 50+ licenses and registrations globally, including markets like Luxembourg, the Netherlands, Italy, Spain, France, the United States (covering 40 states, including New York, Washington, Texas, and Florida), and the United Kingdom.
As we embark on this exciting new chapter in Singapore, we thank you, our valued users, for your continued support. Bitstamp remains steadfast in our mission to drive the adoption of crypto while upholding the highest standards of security and compliance. Stay tuned for more updates as we continue to grow and drive innovation within the digital asset ecosystem.