Bitstamp, a European Cryptocurrency Exchange, Secures Preliminary Approval in Singapore

The Singaporean financial overseer, the Monetary Authority of Singapore (MAS), has provisionally greenlit European digital asset exchange Bitstamp for regulatory consent.

Bitstamp is poised to launch services involving digital payment tokens in Singapore, augmented by the MPI license they are set to acquire, as disclosed through an email on Wednesday.

Characterizing itself as the pioneering cryptocurrency marketplace with a substantial European Union (EU) footprint to clinch an in-principle nod from Singapore, Bitstamp is paving its way in the regulatory landscape.

In Singapore, Bitstamp’s strategic priority will center on catering to the needs of financial entities and go-betweens, including payment service firms, emerging tech financial companies, and brokerage houses.