Blockchain.com has secured an in-principle approval for the Major Payment Institution License offering Digital Payment Token services from the Monetary Authority of Singapore (MAS). With this preliminary approval, Blockchain.com Singapore continues to service institutional and high net worth investors, project teams and operators in the crypto ecosystem.

Blockchain.com views Singapore as an attractive city-state to invest in the growth of its institutional customers and its team, as the most advanced economy in Southeast Asia. At Blockchain.com, we’re advocates of thoughtful regulation and remain committed to obtaining registrations and licenses in all jurisdictions where we do business.

“Blockchain.com commends the Monetary Authority of Singapore on its transparent regulatory process that prioritizes crypto industry oversight while allowing innovation to thrive,” said Blockchain.com CEO and Co-Founder Peter Smith.

Alongside this approval, Blockchain.com will continue to grow its Singapore office and expand its institutional client roster.