Bitstamp Secures Singapore License Boosting Asia-Pacific Expansion

Bitstamp, a prominent cryptocurrency exchange backed by Robinhood, has been granted a Major Payment Institution (MPI) license by the Monetary Authority of Singapore (MAS). This license allows Bitstamp to operate legally in Singapore, marking a significant expansion into the Asia-Pacific market. The MPI license is a crucial regulatory milestone for cryptocurrency exchanges, as it ensures compliance with stringent financial regulations and enhances the trust and security of the platform for users.

The license enables Bitstamp to offer regulated cryptocurrency services and institutional-grade infrastructure in Singapore. This move is part of Bitstamp's broader strategy to expand its global footprint and provide a secure and compliant environment for cryptocurrency trading. The exchange first received in-principle approval from the MAS in March of the previous year, indicating a thorough and rigorous regulatory process.

The acquisition of the MPI license by Bitstamp is a testament to the growing acceptance and regulation of cryptocurrencies in Singapore. The MAS has been proactive in establishing a framework for digital payment token services, ensuring that exchanges operate within a secure and transparent environment. This regulatory environment is attractive to both retail and institutional investors, as it provides a level of assurance and protection that is often lacking in less regulated markets.

Bitstamp's entry into the Singapore market is expected to bolster its position as a leading cryptocurrency exchange. The exchange, which is already registered as a Money Services Business (MSB) with FinCEN and licensed as a virtual currency business under the NYDFS BitLicense, is well-positioned to leverage its regulatory compliance and infrastructure to attract users in the Asia-Pacific region. The expansion into Singapore is a strategic move that aligns with Bitstamp's goal of becoming a global leader in the cryptocurrency space.

The regulatory approval from the MAS is also a significant development for the broader cryptocurrency industry. It demonstrates that major financial regulators are increasingly recognizing the importance of cryptocurrencies and are taking steps to integrate them into the traditional financial system. This trend is likely to continue as more countries and regions adopt regulatory frameworks for digital assets, providing a more stable and predictable environment for cryptocurrency exchanges and investors.

In June, MAS ordered all crypto exchanges serving overseas customers to get licensed or face expulsion, imprisonment, and financial penalties. The regulator also warned that obtaining a license would be very difficult. MAS officials wrote: "MAS has set the bar high for licensing and will generally not issue a license. The money laundering risks are higher in such business models and if their substantive regulated activity is outside of Singapore, MAS is unable to effectively supervise such persons."

Singapore's new regulatory policy sparked concern among crypto firms located in the country, as the deadline to stop operating in Singapore without a license was Monday, putting the future of some crypto firms in doubt. Singapore is emerging as a crypto hub in the APAC region, alongside a special economic zone that acts as a regulatory sandbox, bridging mainland China to global digital currency markets.

Innovation-friendly regulations and a focus on robust consumer protections attracted a torrent of crypto firms to Singapore in 2024. MAS approved twice as many crypto business applications that year as in 2023. Despite the surge of international crypto and Web3 firms setting up shop in the country and a high degree of digital asset awareness, local adoption of crypto remains low. Approximately 94% of Singaporeans are aware of at least one digital asset, according to the Independent Reserve Cryptocurrency Index Singapore 2025 study. At the same time, only 29% said that they currently or previously owned crypto. Unsurprisingly, 68% of the crypto owners hold Bitcoin (BTC), the first cryptocurrency and the largest by market capitalization.