In a win for the crypto industry, Bitstamp has secured a coveted license from Singapore’s Monetary Authority (MAS)—defying the regulator’s warning that approvals would be scarce.
The exchange’s milestone follows MAS’s June ultimatum to offshore-serving crypto firms: Get licensed or shut down. The harsh stance sparked fears of an exodus, but Bitstamp’s success proves compliance is possible.
Singapore’s allure as a crypto hub persists, with MAS approving twice as many firms in 2024 as the year prior. Yet paradoxically, while global players flock to the city-state, everyday Singaporeans remain hesitant toward crypto adoption.
For Bitstamp, the license is a strategic foothold in APAC’s competitive market—and a testament to navigating regulators’ high bar.
