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Coinbase Gets Singapore Digital Payment Token License
Coinbase joins Crypto.com and DBS Vickers as major institutions with a DPT license from the Monetary Authority of Singapore.
By Sam Reynolds
Updated May 9, 2023, 3:58 a.m. Published Oct 11, 2022, 4:24 a.m.
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Singapore’s central bank, the Monetary Authority of Singapore (MAS), has granted Coinbase in-principal approval for a DPT license to operate in Singapore the company said in a press release.
- Including Coinbase, MAS has given out 17 in-principle approvals and licenses for DPT platforms under the Payment Services Act.
- Critics have complained that the licensing process is too hard and burdensome, but MAS has said it promises to be “unrelentingly hard” on crypto as a regulator.
- Coinbase currently has 100 employees in Singapore.
- In late 2021, Binance pulled out from Singapore after withdrawing its application for a DPT license and subsequently shut down its local .SG trading portal.
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KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
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Michael Saylor's Strategy catches a break from MSCI, but analysts caution fight isn’t over yet
MSCI won’t drop firms like Strategy from indexes yet, but a broader rule change may still be on the table
What to know:
- Shares of Strategy rose 6% after MSCI decided not to exclude digital asset treasury firms from its indexes.
- The decision alleviates immediate pressure on companies holding large amounts of bitcoin but not directly operating in the blockchain sector.
- Analysts caution that the situation may not be resolved, as future MSCI rule changes could still impact firms like Strategy.
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