By Reuters | Updated: 11 October 2022
Coinbase, the largest crypto exchange in the United States, said it has received approval from Singapore’s central bank to offer payment services in the city-state.
The in-principle approval, which the central bank started giving out to crypto firms last year, means individuals and institutions can use digital payment token services and the firms are regulated by the central bank under its Payment Services Act.
Calling it a “significant milestone”, Coinbase said in a statement that it has been building up its presence in Singapore and currently had nearly 100 employees in the Southeast Asian state, with product engineers forming the largest bulk of hires.
Coinbase, the largest crypto exchange in the United States, said it has received approval from Singapore’s central bank to offer payment services in the city-state.
The in-principle approval, which the central bank started giving out to crypto firms last year, means individuals and institutions can use digital payment token services and the firms are regulated by the central bank under its Payment Services Act.
Calling it a “significant milestone”, Coinbase said in a statement that it has been building up its presence in Singapore and currently had nearly 100 employees in the Southeast Asian state, with product engineers forming the largest bulk of hires.
