United States-based cryptocurrency exchange Coinbase (NASDAQ:COIN) is expanding operations in Singapore after securing major regulatory approval from the country’s central bank.
Coinbase has obtained a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS), the firm announced on Oct. 1. The new license — coming one year after Coinbase’s initial in-principle approval in Singapore — enables the company to expand its digital payment token services to individuals and institutions in the country.