Cryptocurrency Q&A
Is Coinbase expanding operations in Singapore?
Is Coinbase expanding operations in Singapore?
SakuraBlooming
Tue Jul 16 2024
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5 answers
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Could you elaborate on the recent rumors surrounding Coinbase's potential expansion in Singapore? Is there any official confirmation from the company regarding this matter? If so, what are the key details of this expansion, such as the scope of operations, the number of employees to be hired, and the timeline for the launch? Are there any strategic reasons behind this choice of Singapore, and how do they align with Coinbase's overall business objectives? Additionally, what impact could this expansion have on the cryptocurrency market in Singapore and the region?
5 answers
CryptoTitaness
Thu Jul 18 2024
This expansion is made possible by the firm securing a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS).
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WhisperInfinity
Thu Jul 18 2024
The license was granted on October 1, and Coinbase made the announcement shortly after.
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Alessandra
Thu Jul 18 2024
The MAS is Singapore's central bank and regulatory authority for financial institutions. The MPI license allows Coinbase to provide a wider range of payment services in Singapore.
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CryptoEnthusiast
Thu Jul 18 2024
With this license, Coinbase can now offer its users in Singapore access to more advanced financial products and services. BTCC, a UK-based cryptocurrency exchange, offers similar services, including spot, futures, and wallet solutions.
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CryptoAlly
Thu Jul 18 2024
Coinbase, a cryptocurrency exchange headquartered in the United States, is expanding its operations in Singapore following a significant regulatory breakthrough.
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