Share this article
Coinbase Obtains Payment License in Singapore
The Coinbase International Exchange received regulatory approval from Bermuda's financial regulator, and Coinbase registered with Spain's central bank last week.
Updated Oct 4, 2023, 3:50 p.m. Published Oct 2, 2023, 8:07 a.m.
Crypto exchange Coinbase has obtained a payment institution license from the Monetary Authority of Singapore.
This license will enable the exchange to expand its "provision of digital payment token services to both individuals and institutions in Singapore," the company said in a blog on Monday. Coinbase received in-principal approval as a payments institution license holder from Singapore last year.
STORY CONTINUES BELOW
The company said it had been quietly increasing its presence in Singapore. Last year it established a tech hub for Coinbase in the country and has since hired and trained product managers and engineers working on Web3. Its venture capital arm has also invested in over 15 Web3 startups in the country over the last three years. Singapore is the hub for Coinbase's Asia-Pacific institutional business.
"At Coinbase, we see thoughtful and practical regulation as a key ingredient for growth that will ultimately help fulfill the potential of this financial and technological revolution," the company said in its blog.
The company has been expanding internationally and has been targeting countries that have clear rules for the crypto industry. The Coinbase International Exchange acquired regulatory approval from Bermuda's financial regulator, and Coinbase registered with Spain's central bank last week.
Singapore has been stepping up its supervision over the sector, handing out several licenses to high-profile firms in 2023. On Monday, market maker GSR announced it had received in-principle approval for the same license as Coinbase from the Singapore regulator.
UPDATE (Oct. 2, 14:18 UTC): Adds GSR's in-principle approval in the last paragraph.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Save the Children Introduces Bitcoin Fund to Streamline Crisis Response
New fund enables Save the Children to hold bitcoin, pilot digital wallets, and speed up emergency aid delivery.
What to know:
- Save the Children has launched a Bitcoin Fund to hold cryptocurrency donations for up to four years, allowing donors more control over conversion timing.
- The fund aims to enhance the speed and efficiency of aid delivery by utilizing blockchain technology and piloting new forms of direct assistance.
- This initiative reflects a growing interest in decentralized finance to reduce costs and increase transparency in humanitarian aid.
Top Stories
