Shiba

2024

Bitcoin

Shiba Inu

<ul>
 <li>This move furthers the goal of increasing its presence in key Asia-Pacific markets.</li>
 <li>The in-principle approval coincides with a period of market recovery.</li>
</ul>
Bitstamp, a cryptocurrency exchange based in Europe, has received preliminary regulatory clearance from Singapore’s Monetary Authority (<a href="https://thenewscrypto.com/bitgo-secures-in-principle-approval-for-mpi-license-by-singapores-mas/" target="_blank" rel="noopener noreferrer nofollow">MAS</a>). The exchange will soon be authorized to provide digital payment token services in the region thanks to the Major Payment Institution (MPI) license, according to an email release on Wednesday.
<a href="https://thenewscrypto.com/bitstamp-announces-canada-exit/" target="_blank" rel="noopener noreferrer nofollow">Bitstamp</a> boasts that it was the first cryptocurrency exchange with a significant presence in the European Union (EU) to get in-principle permission in Singapore. <a href="https://sg.upbit.com/" target="_blank" rel="noopener noreferrer nofollow">Upbit</a>, a South Korean crypto exchange, was the latest to get complete licensing in Singapore. The company received its MPI license in January, almost 3.5 months after obtaining in-principle approval.
<h3 class="wp-block-heading" id="h-strategic-expansion">Strategic Expansion</h3>
In Singapore, Bitstamp plans to primarily target payment processors, fintechs, and brokerages, among other financial institutions and intermediaries.
According to the Asia-Pacific general manager of the exchange, Mr. Leonard Hoh, the Act will allow the company to provide digital payment token exchange services and cross-border money transfers to clients in Singapore and a few other countries in the region.
According to the exchange’s global chief executive, Mr. Jean-Baptiste Graftieaux, this move furthers the company’s goal of increasing its presence in key Asia-Pacific and global markets.
The business made note of the fact that the in-principle approval coincides with a period of market recovery, as the crypto framework in the EU is anticipated to become more rigid in 2024 and Bitcoin exchange-traded funds (ETFs) have been approved by the U.S <a href="http://sec.gov" target="_blank" rel="noopener noreferrer nofollow">SEC</a>.
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Bitstamp Secures Preliminary Regulatory Clearance in Singapore

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TheNewsCrypto

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