Crypto exchange Coinbase announced on Oct. 1, 2023, that it had secured a Major Payment Institution (MPI) license from Singapore’s monetary authority, MAS. The new approval, which comes one year after the exchange’s first in-principle approval in the country, will allow Coinbase to extend its digital payment token services to Singapore citizens and institutions.
The MAS stipulates that MPI-licensed companies have the green light to provide payment services without being constrained by transaction limits of $2.2 million. Additionally, the companies are exempt from the monthly transaction limit of $4.4 million for two or more payment services, as long as they…
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