Robinhood-Backed Bitstamp Secures Major Payment License in Singapore Amid Regulatory Shakeup

Bitstamp, the cryptocurrency exchange backed by Robinhood, has obtained a Major Payment Institution (MPI) license from Singapore's Monetary Authority (MAS), even as the city-state tightens regulations on unlicensed crypto firms. The license approval came shortly before Singapore's June 30 deadline requiring unregistered crypto companies to cease operations.

The MPI license exempts Bitstamp from maintaining minimum transaction volumes - typically S$3 million monthly per payment service and S$5 million in daily outstanding e-money services. This regulatory milestone represents Bitstamp's strategic entry into the Asia-Pacific market, with the exchange establishing a Singapore-based APAC team specializing in regional market expertise, compliance, and strategic partnerships.

"We understand the region and work diligently to build trust through responsive, face-to-face collaboration," a Bitstamp spokesperson stated.

The approval comes during significant regulatory changes in Singapore's crypto landscape. MAS has maintained a firm stance on its licensing requirements, prompting concerns about an industry exodus. While some exchanges like Bitget and Bybit consider relocating Singapore staff due to unmet licensing requirements, others like Binance have opted for remote operations without a physical presence.

Bitstamp joins licensed exchanges including OKX and Coinbase in Singapore's regulated market. The company previously secured MiCA authorization in Europe and maintains full licensing in both the U.S. and U.K. markets.