Coinbase Stock

Coinbase Global (COIN) witnessed a substantial stock price surge <a href="https://blockchainreporter.net/coinbase-elevates-its-stance-in-singapore-with-an-mpi-licence-acquisition/" rel="noopener noreferrer nofollow">following the grant of a pivotal license in Singapore</a>. Coinbase secured the coveted ‘Major Payment Institution’ license from the Monetary Authority of Singapore, enabling the provision of digital token payment services to both retail and institutional investors.Singaporean authorities acknowledged Coinbase’s strong commitment to anti-money laundering measures during their evaluation process. This endorsement solidified Coinbase’s position in Asia’s burgeoning crypto market hub, amid regional prohibitions on crypto trading and payments.Coinbase expressed its profound connection with the Lion City, emphasizing alignment between its “global mission and objectives” and Singapore’s progressive economic strategies and regulatory approach.The Monetary Authority of Singapore (MAS) emerged as a crucial regulatory ally for Coinbase. Obtaining the MAS license signifies not just approval but a collaborative endeavor, as stated by Coinbase. In pre-market trading, Coinbase shares indicated a robust 5.02% surge, foreshadowing an opening price of $75.08 per share, reflecting a remarkable 18% growth in the stock price over the past six months.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/c07ded1f1be64bbe9acc72e7005d7eca.png" />COIN Stock Chart | Source: <a href="https://www.google.com/finance/quote/COIN:NASDAQ?sa&#61;X&amp;ved&#61;2ahUKEwiX6d_bm9eBAxWshv0HHRUdBAMQ3ecFegQIKxAf" rel="noopener noreferrer nofollow">Google Finance</a><h2 id="header-0">Coinbase Receives Bermuda Futures Trading Approval</h2>This achievement follows Coinbase’s recent victory in its regulatory tussle with the SEC, as it received approval from the  to offer <a href="https://blockchainreporter.net/bitcoin-price/" rel="noopener noreferrer nofollow">Bitcoin</a> futures to individual investors. According to the <a href="https://www.coinbase.com/blog/coinbase-receives-regulatory-approval-to-enable-retail-perpetual-futures" rel="noopener noreferrer nofollow">firm’s statement</a>, in the coming weeks, with the help of the Bermuda Monetary Authority (BMA), the exchange will provide qualified users of Coinbase Advanced with access to perpetual futures contracts. In May of this year, the business unveiled its international exchange and published BTC and ETH perpetual futures contracts as part of its plans to grow internationally.Coinbase International, which would not begin serving institutional customers until May 2023, provided services related to cryptocurrency derivatives. Following the most recent round of regulatory clearance, Coinbase Advanced users will soon be able to trade regulated perpetual futures contracts. According to the marketplace, Coinbase Bermuda is in charge of the perpetual futures accounts and is governed by the BMA.

Coinbase’s Stock Surges on Singaporean License Approval

Table of Contents

BlockchainReporter

Other articles published on Oct 2, 2023

The Impact of AI Girlfriends on American Society: Experts Clash Over Concerns

5 Best Australian Luxury Stocks to Finance in October 2023

Hong Kong and Macao Police Nab Four More Suspects in JPEX Crypto Platform Scam

Venmo – A Financial App that Makes Buying Bitcoin Easier

SOL Price Analysis: Solana Eyes $30 With Bullish Setups!

Top Reasons Why the Crypto Market Is Up Today

Join our free newsletter for daily crypto updates!