The American cryptocurrency exchange Coinbase received a license to provide payment services.

With this, the exchange will be able to continue to develop its business in the Asia-Pacific territory.

These markets also include Indonesia, Vietnam, Australia and Japan. Coinbase CEO Brian Armstrong has prioritized international growth after cutting nearly a fifth of the company's staff and losing revenue and trading volume in Q2 2022.

Singapore is developing its ecosystem of crypto assets gradually and consistently, due to which it is the most important Asian center for the industry. Since 2019, fifteen crypto firms have been able to get permission in the jurisdiction, based on reports from Bloomberg.

Indian company Zebpay applied for a license to the Monetary Department of Singapore a week earlier.