By Ronnie Harui

SINGAPORE--Coinbase Global has obtained a major payment institution license from the Monetary Authority of Singapore, which would enable the crypto exchange to expand its digital-payment token services to individuals and institutions in the city state.

This comes after an initial in-principle approval and strengthens its commitment to the Singapore market, Coinbase said in a blog post. The crypto exchange received initial in-principle approval from MAS in October 2022.

Write to Ronnie Harui at ronnie.harui@wsj.com

(END) Dow Jones Newswires

October 02, 2023 05:37 ET (09:37 GMT)

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