Coinspeaker
European Crypto Exchange Bitstamp Gets In-Principle Approval for Singapore Expansion
Bitstamp has received in-principle approval from the Monetary Authority of Singapore (MAS) to operate as a major payment institution. This marks the entry of the popular European-based cryptocurrency exchange into the thriving Asian market. The approval means that Bitstamp is a step closer to offering a wide range of crypto services, including trading, custody, and exchange services to Singaporean customers, promising greater accessibility and opportunities for crypto traders and investors in the region.
Usually, an in-principle approval is a preliminary nod that the MAS issues to firms applying for the major payment institution (MPI) license.
Recall that South Korean Upbit bagged a full MPI license in Singapore in January. That license, however, came around three and a half months after Coinspeaker initially reported that it received the preliminary nod from the MAS.
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