Coinbase Granted MPI License by MAS

Cryptocurrency exchange Coinbase has successfully obtained a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS).
Acknowledging Singapore as a “vital” and “priority” market for its global expansion, Coinbase cites the region’s “progressive economic strategies and regulatory approach” and the substantial presence of over 700 Web3 companies.

In its pursuit to establish a strong presence in the country, Coinbase has tailored and launched products specifically designed for the Singapore market. This includes the introduction of PayNow and FAST bank transfers. Additionally, to streamline registration, Coinbase integrated SingPass, Singapore’s digital identification system. Moreover, to facilitate transactions, the platform has enabled free USDC purchases using Singapore dollars (SGD).

▪️Reminder that Singapore’s emergence as the most reliable, stable, and growing region in international banking. It’s evident that major companies are keen to be a part of this burgeoning landscape, leveraging the opportunities for business growth.
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