Coinbase expands regulatory moat with Singapore license

Coinbase said it views Singapore as a crucial market for growth of the crypto and Web3 economy

article-image

Changi Jewel Singapore | KiranPix / Shutterstock, modified by Blockworks

share

Coinbase has obtained a full license in Singapore, allowing the crypto exchange to broaden its offerings to both individual users and institutional clients in the city-state.

The company scored its Major Payment Institution (MPI) license about a year after Singapore’s central bank granted preliminary approval.

On Sunday, the company highlighted the importance of Singapore within the crypto industry, pointing out that 25% of local residents surveyed view cryptocurrency as the future of finance, and 32% have owned or currently own crypto assets.

“From our initial involvement in the Lion City, we’ve identified Singapore as a vital market for Coinbase,” the exchange said in a statement.

“The nation’s progressive economic strategies and approach to regulation sync well with our global mission and objectives,” it added.

Obtaining a license for a cryptocurrency company in Singapore is a challenging process

The Monetary Authority of Singapore (MAS), responsible for regulating crypto business licenses, only grants approval to applicants who have strong anti-money laundering measures in place, according to its director of corporate communications, Dawn Chew.

After implementing initiatives to reduce the risks posed by crypto to customers, Singapore will establish one of the strictest regulatory regimes in the world governing retail access to cryptocurrencies, Chew has said.

A limited group of companies, such as Blockchain.com, Circle Internet Singapore, Crypto.com, and Revolut, have so far managed to secure an MPI license for digital payment token services.

Just about a week ago, Coinbase obtained registration in Spain, granting it the ability to function as a crypto exchange and wallet service provider within the country. 

Coinbase also recently extended access to its perpetual futures service to non-US retail users due to significant institutional trading volume exceeding $5.5 billion in the second quarter.

As Coinbase continues its global expansion efforts, it is actively pushing for crypto-related legislation within the US. 

In September, the exchange launched a campaign urging crypto users to reach out to their Congressional representatives and request the enactment of well-defined legislation in this field.


Get the news in your inbox. Explore Blockworks newsletters:

  • Blockworks Daily: The newsletter that helps thousands of investors understand crypto and the markets, by Byron Gilliam.
  • Empire: Start your morning with the top news and analysis to inform your day in crypto.
  • Forward Guidance: Reporting and analysis on the growing intersection of crypto and macroeconomics, policy and finance.
  • 0xResearch: Alpha directly in your inbox. Market highlights, data, degen trade ideas, governance updates, token performance and more.
  • Lightspeed: Built for Solana investors, developers and community members. The latest from one of crypto’s hottest networks.
  • The Drop: For crypto collectors and traders, covering apps, games, memes and more.
Tags

Upcoming Events

Industry City | Brooklyn, NY

TUES - THURS, JUNE 24 - 26, 2025

Permissionless IV serves as the definitive gathering for crypto’s technical founders, developers, and builders to come together and create the future.If you’re ready to shape the future of crypto, Permissionless IV is where it happens.

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

recent research

Research

article-image

Luke Barwikowski took to Twitter to raise awareness about the threats against him and his family

article-image

David Chaum’s ecash in the 90s offers insights into balancing priorities in DeFi today

article-image

The forthcoming stablecoin was praised by BitGo’s Mike Bleshe as an advancement in “institutional-ready digital assets”

article-image

Chronicle’s Niklas Kunkel talked to Blockworks about the raise and why he’s prioritizing research

article-image

Sponsored

DESK isn’t just another trading platform — it’s redefining what’s possible in on-chain trading

article-image

The real strength of tailored AMMs might lie in their capacity to cultivate deeper loyalty and engagement within niche communities