tl;dr
Bitstamp, a European cryptocurrency exchange, has received in-principle regulatory approval from the Monetary Authority of Singapore (MAS), allowing it to soon offer digital payment token services in Singapore. As the first crypto exchange with a major EU presence to secure such approval in Singapor...
Bitstamp, a European cryptocurrency exchange, has received in-principle regulatory approval from the Monetary Authority of Singapore (MAS), allowing it to soon offer digital payment token services in Singapore. As the first crypto exchange with a major EU presence to secure such approval in Singapore, Bitstamp is focused on serving financial institutions and intermediaries in the city-state. CoinDesk, an award-winning media outlet covering the cryptocurrency industry, was acquired by the Bullish group in November 2023.
Bitstamp's attainment of the Major Payment Institution (MPI) license sets the stage for the delivery of digital payment token services in Singapore. This marks a significant milestone as the first major EU-based crypto exchange to achieve in-principle approval in Singapore. It positions Bitstamp to cater specifically to the financial sector, with an emphasis on serving the needs of financial institutions and intermediaries such as payments processors, fintechs, and brokerages. CoinDesk, a respected media outlet specializing in covering the cryptocurrency industry, saw a change in ownership when it was acquired by the Bullish group in November 2023.
These developments reflect a growing trend in both the regulatory approval of cryptocurrency exchange services and the changing landscape of media outlets covering the industry. Bitstamp's position in the Singapore market speaks to a broader acceptance of digital payment token services in the city-state, while CoinDesk's acquisition by the Bullish group underscores the ongoing evolution of media entities within the cryptocurrency space.
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