Bitstamp Receives MAS License to Operate in Singapore
Key Takeaways:
- Bitstamp obtains full operating license from Singapore’s MAS under new digital payment token regulations
- License is central to Bitstamp’s strategic expansion across the Asia-Pacific region
- Singapore is establishing itself as a regional crypto hub despite low domestic adoption rates
- MAS enforces strict licensing regime with severe penalties for non-compliance
- Regulatory approvals doubled in 2024 despite high entry barriers
The Monetary Authority of Singapore (MAS) has granted cryptocurrency exchange Bitstamp a Major Payment Institution license, authorizing the platform to provide digital payment token services to Singapore residents. This milestone comes after MAS issued new policies requiring all cryptocurrency companies based in Singapore to register for operations.
Regional Expansion Plan
Bitstamp has announced that its newly acquired Monetary Authority of Singapore (MAS) license is key to its strategic expansion into the Asia-Pacific (APAC) market. This move solidifies the Luxembourg-based exchange’s standing in one of the fastest-growing cryptocurrency regions, placing it alongside rivals such as Coinbase, which also received similar approvals recently. Acquired by blockchain investment firm NGC in 2023, Bitstamp intends to utilize Singapore’s role as a financial hub to access Southeast Asia’s 650 million consumers.
Strict Regulatory Policies
In June, MAS issued that all digital asset platforms servicing international clients must obtain operating licenses, with non-compliant entities facing severe penalties including business cessation, financial sanctions, and potential criminal consequences. The regulator explicitly cautioned about the demanding licensing standards, with an MAS official stating:
“MAS maintains rigorous licensing criteria and frequently rejects applicants. Business models with elevated money laundering risks – particularly those with substantial management operations outside Singapore – present significant supervisory challenges that often prove insurmountable.”
Impact on the Cryptocurrency Industry
Singapore’s new regulatory policies have raised concerns among cryptocurrency companies operating in the country. With Monday’s deadline for unlicensed platforms to cease operations, several international exchanges have already withdrawn services from the Singaporean market. This regulatory tightening contrasts with Hong Kong’s simultaneous efforts to position itself as Asia’s alternative crypto hub through more accommodative policies.
Singapore – Regional Cryptocurrency Hub
Despite its stringent approach, Singapore continues to strengthen its position as APAC’s premier cryptocurrency hub alongside Hong Kong. Functioning as a regulated gateway between global markets and mainland China’s digital economy, Singapore’s innovation-friendly framework – balancing market development with robust consumer safeguards – attracted record numbers of crypto firms in 2024. Notably, MAS approved twice as many cryptocurrency business registrations this year compared to 2023.
Local Adoption Status
While international cryptocurrency and Web3 companies increasingly establish Singapore headquarters, local adoption remains comparatively modest.
According to the 2025 Singapore Independent Reserve Cryptocurrency Index, approximately 94% of residents demonstrate awareness of digital assets, yet only 29% report current or past cryptocurrency ownership. Among holders, Bitcoin maintains dominant popularity with 68% adoption, reflecting global trends despite Singapore’s advanced digital infrastructure.
Unsurprisingly, Bitcoin remains the most popular choice, with 68% of cryptocurrency holders owning this first and largest cryptocurrency by market capitalization.