The exchange and wallet operator Blockchain.com has received preliminary approval from the Monetary Authority of Singapore (MAS) to provide digital asset-related services.
The CEO and co-founder Peter Smith noted a ‘transparent regulatory process’ in the city-state.
Blockchain.com regards Singapore as an attractive jurisdiction for investing in the development of services for institutional clients.
Earlier, MAS granted licenses to digital payment token service providers including DBS Vickers, Independent Reserve, FOMO Pay, Revolut and others.
On 11 October of the same year, the cryptocurrency exchange Coinbase achieved.
In September 2022 Blockchain.com obtained preliminary authorization to operate from the Dubai Virtual Asset Regulatory Authority.
In July the company laid off a quarter of its staff.
The decisions followed against the backdrop of possible losses of $270 million, previously provided as loans to the hedge fund Three Arrows Capital. The latter filed for bankruptcy.
Read ForkLog’s Bitcoin news on our Telegram — cryptocurrency news, rates and analysis.