The Monetary Authority of Singapore (MAS) has issued a payment license to Bitcoin exchange Blockchain.com.
The permit allows “to provide regulated digital asset trading services to global institutional clients and accredited investors,” company officials said.
Singapore is also the headquarters of Blockchain.com in Southeast Asia.
“We are very pleased to receive this license, which will allow us to provide our products and services in the country. We thank MAS for its transparent regulatory process that prioritizes oversight of the crypto industry, allowing innovation to flourish,” added exchange CEO and co-founder Peter Smith.
Earlier, Ripple received principal approval from the Central Bank of Singapore. In June, the co-issuer of the USDC stablecoin, Circle, entered the same list.
Recall that in August MAS announced the allocation of more than $110 million to support innovations in the fintech sphere, including Web3. The agency will hold open competitions and, based on their results, provide grant funding.
Earlier, the regulator released a report with the results of work in partnership with the Bank for International Settlements on Project Guardian. The initiative aims to study the compliance of tokenization and DeFi with international standards.
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