Crypto exchange Bitstamp has secured a key license from the Monetary Authority of Singapore, allowing it to expand its operations in the Asia-Pacific region.
License for Bitstamp
Bitstamp has received approval from the Monetary Authority of Singapore (MAS) to offer digital payment token services to Singapore residents. This decision opens up new opportunities for the exchange in the rapidly growing Asian market.
Regulatory Changes in Singapore
In June, MAS notified all crypto exchanges serving international customers of the need to obtain a license or shut down. The regulator warned of strict penalties, including possible shutdown and incarceration, if companies did not comply with regulations. This has created pressure on both local and foreign players in the cryptocurrency field.
Cryptocurrency Market Prospects in Singapore
While Singapore attracts many international Web3 companies, the level of local cryptocurrency adoption remains low. According to the 2025 Independent Reserve Cryptocurrency Index, 94% of Singaporeans are familiar with digital assets, but only 29% have ever owned them. Despite high awareness rates, the existing cryptocurrency infrastructure continues to grow rapidly.
The MAS license for Bitstamp highlights the importance of regulation in Singapore's cryptocurrency industry and underscores the growing challenges for players operating in this dynamic region.
