Coinbase has been granted a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS), demonstrating its dedication to the city-state. This license allows Coinbase to provide digital payment token services, cross-border money transfer services, and domestic money transfer services to both retail and institutional clients in Singapore.Nana Murugesan, VP of Internal and Business Development at Coinbase, stated that the license is a validation of Coinbase’s operations and a promise to the growing crypto and Web3 community in Singapore.Singapore has become a crypto hub, with 25% of its population believing that crypto is the future of finance. The city-state is also home to over 700 Web3 companies. Coinbase has recently launched Singapore-specific products, such as PayNow and FAST bank transfers, SingPass digital identity integration, and no-fee USDC purchases.In addition to the MPI license from MAS, Coinbase has also achieved VASP registrations in Spain, Italy, Ireland, and the Netherlands. This is part of the company’s international expansion efforts.

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Information	Details
Geography	Asia
Countries	🇸🇬 🇺🇸 🇪🇸 🇮🇹 🇮🇪 🇳🇱
Sentiment	positive
Relevance Score	10
People	Nana Murugesan
Companies	Monetary Authority of Singapore (MAS), Coinbase, PayNow, SingPass, FAST bank transfers
Currencies	USDC, Ethereum, Bitcoin, PodFast, Singapore Dollar
Securities	None