European cryptocurrency exchange Bitstamp has received in-principle approval for an MPI license in Singapore

ChainCatcher news, according to CoinDesk, European cryptocurrency exchange Bitstamp has received in-principle regulatory approval from the Monetary Authority of Singapore (MAS). The Major Payment Institution (MPI) license will soon enable Bitstamp to offer digital payment token services in Singapore.

Bitstamp stated that its focus in Singapore will be to serve financial institutions and intermediaries, such as payment processors, fintech companies, and brokerage firms.