Bitstamp Secures In-Principle Approval from Monetary Authority of Singapore for Digital Payment Token Services

European cryptocurrency exchange Bitstamp has achieved a significant milestone by receiving in-principle regulatory approval from the Monetary Authority of Singapore (MAS). This approval grants Bitstamp a Major Payment Institution (MPI) licence, allowing the exchange to offer digital payment token services in Singapore. Describing itself as the first crypto exchange with a substantial European Union (EU) presence to secure such approval in Singapore, Bitstamp's achievement highlights its commitment to expanding its reach into new markets. This development underscores Singapore's growing importance as a hub for cryptocurrency and blockchain innovation, with Bitstamp poised to capitalise on opportunities in the Southeast Asian region.