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Coinbase gains in-principle approval for Singapore crypto license

he Singapore-based arm of the United States cryptocurrency exchange Coinbase has received “in-principle approval” to provide crypto services in Singapore from its central bank, the Monetary Authority of Singapore (MAS). Speaking to Cointelegraph, Hassan Ahmed, CEO of Coinbase Singapore and the exchanges’ regional director for Southeast Asia, said Singapore is a key institutional market for the exchange in Asia due to businesses there continuing to show interest in and gain exposure to crypto. The city-state also serves as Coinbase’s Asia-Pacific tech hub, with an on-the-ground team of engineers responsible for its international expansion efforts and platform localization, said Ahmed. Coinbase was already providing services including its institutional platform under an exemption granted by MAS, but Ahmed said it would look to partner with local platforms and expand its fiat capabilities with its new approval to provide Digital Payment Token services. The exchange says it’s undertaking ongoing work with local Web3 community groups such as the Association of Crypto Currency Enterprises and Start-ups Singapore (ACCESS) and the Singapore Fintech Association (SFA).


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Source: https://cointelegraph.com/news/coinbase-gains-in-principle-approval-for-singapore-crypto-license


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