Key Insights
- Bitstamp, owned by Robinhood, has secured MPI license from Singapore’s Monetary Authority, enabling it to legally operate in the country amid a regulatory crackdown on unlicensed crypto firms.
- The license supports Bitstamp’s expansion into the Asia-Pacific region and exempts it from high transaction volume thresholds, while solidifying its compliance standing alongside firms like Coinbase and OKX.
SINGAPORE (MarketsXplora) — Bitstamp, the Robinhood-owned cryptocurrency exchange, has secured a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS), granting it the regulatory approval needed to continue offering crypto services in the Southeast Asian nation.
The announcement, made Thursday, marks a strategic step in Bitstamp’s broader expansion into the Asia-Pacific (APAC) region and comes just ahead of Singapore’s June 30 deadline for unlicensed digital asset firms to cease operations. The MPI license will allow Bitstamp to offer regulated payment services in Singapore without meeting transaction thresholds required of smaller players.
The license win also reflects Robinhood’s global ambitions for Bitstamp, which it acquired in June for $200 million, and consolidates the exchange’s standing as a trusted brand with operational licenses in Europe (MiCA), the United States, and the United Kingdom.
Bitstamp’s Singapore License Expands Robinhood’s Global Crypto Strategy
The MAS license is a significant milestone in Robinhood’s strategy to deepen its crypto footprint globally through Bitstamp’s established infrastructure. Founded in 2011, Bitstamp has over 14 years of experience in the crypto market and is considered one of the most resilient and regulated exchanges worldwide.
In obtaining the MPI license, Bitstamp joins other major exchanges such as Coinbase and OKX in meeting Singapore’s stringent regulatory requirements. In early 2024, MAS doubled the number of crypto business approvals compared to the previous year, even as it raised the bar for compliance.
Earlier this year, the regulator warned that licenses would not be easily granted due to heightened money laundering risks and enforcement limitations when firms operate primarily outside Singapore. MAS cautioned that “the money laundering risks are higher in such business models,” and that firms without a physical presence or compliance track record could face expulsion, jail time, and financial penalties.
The firm’s local APAC team, based in Singapore, will now focus on delivering market-specific insights, compliance, and partner engagement. “We understand the region and work diligently to build trust through responsive, face-to-face collaboration,” Bitstamp said in a statement.
Bitstamp’s Singapore License Signals Regional Trust Push Amid Crackdown
The regulatory approval arrives at a time of growing tension in Singapore’s crypto sector. Unlicensed firms were ordered to exit the market by June 30, triggering uncertainty for several overseas exchanges, including Bitget and Bybit, which are considering relocating their staff. Binance, by contrast, is allowing its Singapore-based workforce to remain as remote employees without maintaining a formal office.
The broader implications of Bitstamp’s approval go beyond regulatory survival. With its MPI license, the exchange can offer a secure and compliant platform for both retail and institutional investors in the region. The platform features on/off ramps for crypto funding, deep liquidity, and high-speed trading powered by Nasdaq’s matching engine. It also boasts ISO/IEC 27001 and SOC 2 Type 2 security certifications and reports a 99.9% uptime performance.
Bitstamp’s expansion is expected to connect traders in Singapore and neighboring APAC markets to larger financial centers in the U.S., U.K., and EU — a move that enhances cross-border digital asset access.
Despite high awareness of crypto — with 94% of Singaporeans familiar with at least one digital asset — adoption remains limited. A recent study by the Independent Reserve Cryptocurrency Index found that just 29% of residents currently or previously held cryptocurrencies, with Bitcoin remaining the most popular, held by 68% of those users.