Cryptocurrency exchange Bitstamp has secured a license from the Monetary Authority of Singapore (MAS) to offer digital asset services to local residents, the company announced on Thursday. This approval marks a significant step in Bitstamp’s strategic expansion into the Asia-Pacific (APAC) region.
The announcement follows a sweeping regulatory crackdown by MAS in June, mandating that all crypto exchanges serving overseas customers must be licensed. Non-compliance could lead to severe consequences, including expulsion from the market, imprisonment, and steep financial penalties.
“MAS has set the bar high for licensing and will generally not issue a license,” the authority stated. “The money laundering risks are higher in such business models and if their substantive regulated activity is outside of Singapore, MAS is unable to effectively supervise such persons.”
The new regulatory regime has left many crypto firms scrambling to comply or exit the market, as the deadline to stop unlicensed operations in Singapore passed on Monday. Bitstamp’s approval under these strict conditions is a notable achievement, signaling strong compliance standards and operational transparency.
Singapore continues to emerge as a leading crypto hub in the APAC region, rivaling Hong Kong’s regulatory sandbox model. While the environment remains innovation-friendly, MAS has increased scrutiny, aiming to strike a balance between technological progress and consumer protection.
In 2024, MAS approved twice as many digital asset business applications compared to 2023, attracting a wave of international crypto and Web3 firms. Despite this influx, local crypto adoption remains modest. According to the Independent Reserve Cryptocurrency Index Singapore 2025, 94% of Singaporeans are aware of digital assets, but only 29% have ever owned any.
Bitcoin remains the dominant choice among local investors, with 68% of crypto holders in Singapore currently holding the original and most valuable cryptocurrency by market cap.
Bitstamp’s licensing success may offer a blueprint for other exchanges looking to navigate Singapore’s evolving regulatory landscape, underscoring the nation’s growing influence in the global digital asset ecosystem.
