Bitstamp, a crypto exchange that is owned by Robinhood, has been licensed as a Major Payment Institution (MPI) by the central bank of Singapore. The move is a significant component of the company’s strategy to expand its business across the Asia-Pacific (APAC) region.
The Monetary Authority of Singapore (MAS) awarded Bitstamp the license to legally handle digital payment token services within the country.
This announcement evidences Bitstamp’s ongoing emphasis on making regulated and secure access to the crypto markets around the world. The company already holds licenses in the United Kingdom, the United States, and the European Union under MiCA regulations.
With the Singapore license, Bitstamp is now able to offer institutional-grade services to clients in the APAC market straight away. Set up since the year 2011, Bitstamp is one of the oldest and most credible crypto exchanges worldwide.
Bitstamp is ISO/IEC 27001 and SOC 2 Type 2-certified to confirm its willingness to meet the world’s utmost standards in security.
Since its setup 14 years back, the exchange has remained invariably up and running under the dynamic market forces and earned the trust of the industry with its transparency and prudent governance.
With the MPI license in hand, Bitstamp is connecting customers across the APAC region to global markets, including those in the US, UK, and Europe.
Bitstamp expands Crypto services across asia-pacific
The deep liquidity and sophisticated trading infrastructure of the platform, facilitated by Nasdaq’s matching engine, enable institutions to scale up operations and trade with efficiency.
Traders possess rapid on-and-off ramps through multicurrency fiat banking rails in order to switch quickly back and forth between crypto and traditional finance.
Bitstamp also ensures a very high uptime reliability with a consistent performance of 99.9 percent. Its low-latency APIs and robust tools are a match for the needs of professional and institutional traders in the region.
The Singapore-based APAC team will play a critical role in achieving the expansion through the offering of local regulatory experience, partnerships, and local strategies.
Through their representation, the firm can offer face-to-face contact with clients that can assist in building trust as well as cooperation within the region.
With global experience and a recent Singapore presence, Bitstamp by Robinhood is setting the standard for Asia-Pacific exchanges of cryptocurrencies.
