24/7 Cryptocurrency News

Breaking: Coinbase Secures Singapore Crypto License

Top cryptocurrency exchange Coinbase said it secured the digital payment token services license from the Singapore central bank.
Published by
Breaking: Coinbase Secures Singapore Crypto License

Top cryptocurrency exchange Coinbase on Tuesday said it secured the digital payment token services license from Singapore central bank. The approval allows Coinbase to offer payment services to Singapore users. This is in line with the Singapore’s Payment Services Act which allows individual users and institutions to use digital payment token services. Also, the crypto firms are regulated by the country’s central bank.

Advertisement

Coinbase Singapore License Approved

The crypto exchange already has a considerable presence in the Southeast Asian country. According to a Reuters report, Coinbase currently has an employee base of around 100 employees, most of which are product engineers. Hassan Ahmed, Coinbase’s regional director for Southeast Asia said Singapore holds strategic importance for Coinbase’s plan of expansion.

“This is a significant milestone. We see Singapore as a strategic market and a global hub for Web3 innovation.”

Coinbase is the one of the earliest companies to receive the crypto license in Singapore. Earlier, Crypto.com and DBS Vickers were among those received the regulatory nod from authorities. Overall, Singapore has been welcoming of global companies to have a presence in and operate in the jurisdiction. Already, several companies from the South Asian countries like India shifted base to Singapore.

Advertisement

Widened User Base

The Singapore approval is yet another significant step in Coinbase’s expansion plans this year. Earlier in July, the crypto exchange got regulatory approval in a key European market, Italy. The Italian authorities approved a crypto asset service provider license for the company. Coinbase already serves customers across 40 European countries like Ireland, the U.K., and Germany. In many other countries, the plans are in the pipeline with several pending approvals in various countries.

The company faces stiff competition from its rival exchange, Binance. While Coinbase faced turbulence in recent times due to a series of crypto crashes, Binance managed to expand its user base relatively well.

Advertisement

Share
Anvesh Reddy

Anvesh reports major crypto updates around U.S. regulation and market moving trends. Published over 1400 articles so far on crypto and blockchain. A proud dropout of University of Massachusetts, Lowell. Can be reached at anvesh@coingape.com or x.com/BitcoinReddy or linkedin.com/in/anveshreddybtc/

Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • 24/7 Cryptocurrency News

MetaMask Launches Hyperliquid Perpetuals In-App, Plans To Integrate Polymarket

MetaMask has officially introduced perpetuals trading on its platform, powered by Hyperliquid. Meanwhile, the crypto…

October 8, 2025
  • 24/7 Cryptocurrency News

XRP Treasury Holdings Hits $11.5B as Nasdaq-Listed Reliance Global Adds $17M in Fresh Buy

XRP holdings in corporate treasuries have now surpassed $11.5 billion in value. This follows news…

October 8, 2025
  • 24/7 Cryptocurrency News

FOMC Minutes, Jerome Powell Speech: Will Bitcoin Recover or Retrace Further?

Bitcoin and altcoins falter ahead of the FOMC Minutes release and Jerome Powell speech due…

October 8, 2025
  • 24/7 Cryptocurrency News

“Meme Coin SZN Is Here,” Says CZ As GIGGLE, 4 Price Skyrocket to All time Highs

Binance’s Changpeng “CZ” Zhao made a post suggesting the start of the BNB meme coin…

October 8, 2025
  • 24/7 Cryptocurrency News

CZ’s YZi Labs Commits $1 Billion Builder Fund As Binance Coin Surpasses XRP

Changpeng "CZ" Zhao's family office YZi Labs announced $1 billion Builder Fund to fuel BNB…

October 8, 2025
  • 24/7 Cryptocurrency News

Expert Sees LTC Crashing to $50 Even As Litecoin ETF Approval Reaches Final Stage

Litecoin (LTC) has been under investors' radar recently, after a 10% rally over the past…

October 8, 2025