The post Crypto Giant Coinbase Receives Singapore’s Crypto Licence appeared first on Coinpedia Fintech News
As announced by the company on Tuesday, Coinbase has obtained a digital payment token services licence from Singapore’s central bank. With the licence, Coinbase can now provide payment services to its Singapore users. This is in accordance with the Payment Services Act of Singapore, which permits individual users and institutions to utilise digital payment token services. Furthermore, the country’s central bank regulates the crypto companies.
Coinbase is one of the first exchanges in Singapore to get a cryptocurrency licence. Previously, DBSS Vickers and crypto.com were among others that gained regulatory approval. Overall, Singapore has been open to global corporations establishing a foothold and conducting business there. Several enterprises from South Asian nations, including India, have already been located in Singapore.