Bitstamp, a well-established crypto exchange, is expanding its services to users in Singapore after receiving a provisional crypto license from the Monetary Authority of Singapore (MAS). This move marks a significant milestone for Bitstamp as it continues to strengthen its global presence, particularly in Asia.

The approval from MAS allows Bitstamp to offer Digital Payment Token services in Singapore, making it the first crypto exchange with European roots to receive authorization in the country. With regulatory approval in over 50 jurisdictions worldwide, including the U.K. and the United States, Bitstamp is solidifying its position as a trusted platform for users across the globe.

“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.” – Jean-Baptiste Graftieaux, Bitstamp Global CEO

Singapore has emerged as a crypto-friendly hub in the region, with a high level of adoption among financially savvy individuals. According to Coinbase data, over 57% of locals are already invested in cryptocurrencies, showing a strong interest in digital assets. Staking services, in particular, have garnered attention from users in Singapore.

Leonard Hoh, Bitstamp’s APAC general manager, emphasized the importance of supporting innovative regulation to drive economic value in emerging markets. By positioning itself as a trusted infrastructure provider, Bitstamp aims to accelerate mainstream digital asset adoption in the region.

“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.” – Leonard Hoh, Bitstamp APAC general manager

With the increasing interest and investment in cryptocurrencies in Singapore, Bitstamp’s entry into the market is well-timed to cater to the growing demand for reliable and secure crypto trading platforms. As the crypto landscape continues to evolve, Bitstamp’s presence in Singapore is set to further strengthen the country’s position as a key player in the digital assets ecosystem.

For more news and updates on the cryptocurrency industry, visit Global Crypto News.

Post Views: 5