, the United Kingdom-based crypto financial services firm, has secured an in-principle approval for the major payment institution license offering digital payment token services from the Monetary Authority of Singapore (MAS).

With this preliminary approval, Singapore continues to service institutional and high net worth investors, project teams and operators in the crypto ecosystem, the firm said in a statement. views Singapore as an attractive city-state to invest in the growth of its institutional customers and its team, as the most advanced economy in Southeast Asia.

It said that At, the firm advocates of thoughtful regulation and remain committed to obtaining registrations and licenses in all jurisdictions where it does business.

“ commends the Monetary Authority of Singapore on its transparent regulatory process that prioritizes crypto industry oversight while allowing innovation to thrive,” said CEO and Co-Founder Peter Smith.

Alongside this approval, will continue to grow its Singapore office and expand its institutional client roster. got its start as an early pioneer of key infrastructure for the bitcoin community. Its Blockchain Explorer enabled anyone to not only examine transactions and study the blockchain, but an API that enabled companies to build on bitcoin.

It also has provided crypto wallet that enables anyone anywhere to control their own money.

The firm is backed by renowned investors from Silicon Valley, Wall Street, and London, including Baillie, Moore Strategic Ventures, Lightspeed, Vy Capital, DST Global and Google Ventures.

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