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:

Tags

Decoding crypto and the markets. Daily, with Byron Gilliam.

Upcoming Events

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 Report Templates.jpg

Research

Figure, founded by former SoFi CEO Mike Cagney, has emerged as a leader in onchain RWAs, with ~$17.5B publicly tokenized. The platform’s ecosystem volume is growing ~40% YoY as it expands beyond HELOCs into student loans, DSCR loans, unsecured loans, bankruptcy claims, and more. Operationally, Figure cuts average loan production cost by ~93% and compresses median funding time from ~42 days to ~10, creating a durable speed-and-cost advantage.

article-image

If the president breaks the Fed, he’ll own the budget problems

article-image

Combining Franklin Templeton’s tokenization expertise with Binance’s trading infrastructure could speed crypto adoption, companies say

article-image

The firm’s upcoming filing comes as competition heats up over the USDH stablecoin

article-image

Robinhood and Coinbase are vying for user attention with new social features that could rival Twitter

article-image

Atkins backs predictable digital asset framework through Project Crypto, marking a departure from prior enforcement tactics

by Blockworks /
article-image

Following a roundtable, the startup emerges as frontrunner, despite entries from Paxos, Ethena, and others