Robinhood-Backed Bitstamp Secures Singapore License Amid Crypto Regulatory Shifts

Bitstamp, the cryptocurrency exchange backed by trading platform Robinhood, has obtained a Major Payment Institution (MPI) license from Singapore's Monetary Authority. The approval allows Bitstamp to operate without transactional volume constraints, sidestepping requirements like a minimum S$3 million monthly transaction volume per payment service.

The license marks Bitstamp's strategic expansion into the Asia-Pacific region, with a newly established Singapore-based APAC team focusing on local market expertise and compliance. "We understand the region and work diligently to build trust through responsive, face-to-face collaboration," the exchange stated.

This development arrives as Singapore enforces stricter crypto regulations, requiring unlicensed firms to cease operations. Bitstamp's compliance contrasts with the broader industry trend of exchanges facing regulatory hurdles in key markets.