Blockchain.com, a crypto financial services firm, said it has secured in-principle approval for a major payment institution license from the Monetary Authority of Singapore (MAS) to roll out its offerings in the city-state.
Blockchain.com co-founder and CEO Peter Smith / Photo credit: Blockchain.com
Along with the preliminary green light to offer digital payment token services, Blockchain.com said it will expand its footprint in Singapore and onboard more institutional clients.
“Blockchain.com views Singapore as an attractive city-state to invest in the growth of its institutional customers and its team,” the crypto firm wrote in its announcement.
Moving forward, the company aims to secure relevant registrations and licenses in the markets it plans to operate in.
Blockchain.com currently has 84 million wallets and 37 million verified users from 200 countries.
See also: Indonesia’s crypto exchanges face fuzzy future amid new regulations
The development follows Blockchain.com’s crypto peer Coinbase securing a similar in-principle approval from MAS to operate in Singapore. Since its establishment in 2012, Coinbase has onboarded over 100 million verified users globally.
Editing by Lorenzo Kyle Subido
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