Singapore Regulator Awards Major Payment Institution Licence to Bitstamp

Robinhood-owned crypto exchange Bitstamp announced today that it has received a Major Payment Institution (MPI) licence from the Monetary Authority of Singapore (MAS), marking "the start of [their] expansion into APAC," and "a key milestone in [their] commitment to providing secure, compliant, and institutional-grade access to crypto markets," according to a company blog post .

Earlier this year, Bitstamp also secured a Crypto Asset Service Provider (CASP) license under the European Union's Markets in Crypto-Assets (MiCA) regulation, issued by Luxembourg-based regulator, the Commission de Surveillance du Secteur Financier (CSSF).

Started in 2011, Bitstamp was recently acquired by Robinhood , a trading platform based in the U.S. popular for offering zero commission or trading fees, in a $200 million deal just last month.

Part of Bitstamp's appeal as an acquisition target was undoubtedly its numerous licences globally. The company holds over 50 regulatory licenses and registrations across several European Union countries, UK, U.S. and now, Singapore.