The leading cryptocurrency exchange Blockchain.com received a payment institution (MPI) license from the Monetary Authority of Singapore (MAS).
This marks the company’s second license in the city-state after the in-principle approval secured in September 2022.
Blockchain.com announced that its recently-obtained authorization in Singapore follows the entity’s strategy to comply with regulators in every region where it conducts business.
The team behind the exchange said the Asian city-state has emerged as a “profitable trading hub” focused on global institutional and accredited investor clients.
“Over 90 percent of the group’s institutional and accredited investors business is in Singapore,” Rakesh Madamanchi – Blockchain.com’s head of institutional compliance and Singapore operations revealed.
Another reason why the marketplace views Singapore as a key area is because it serves as its Southeast Asia headquarters. Commenting on the regulatory approval was also CE
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