Share this article
Independent Reserve Receives Approval in Principle to Operate in Singapore
The digital currency exchange said the approval relates to becoming a regulated provider for digital payment token services.
Updated Sep 14, 2021, 1:34 p.m. Published Aug 2, 2021, 2:46 p.m.
Independent Reserve, one of Australia’s largest cryptocurrency exchanges, received in principle approval from the Monetary Authority of Singapore (MAS) to operate digital payment token services.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
- The company said it received "in-principle approval" from MAS under Singapore’s Payment Services Act to operate as a regulated provider of services.
- It said it is one of the first virtual asset service providers (VASPs) to receive in-principle approval for a major payment institution licence in Singapore.
- In order to receive the license, VASPs have to make sure that proper due diligence, suitable solicitation and adequate risk disclosure are in place.
Read more: Australian Crypto Exchange to Delist BSV Over ‘Bullying’ Threat to Bitcoin Developers
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Coinbase Sees Crypto Recovery Ahead as Liquidity Improves and Fed Rate Cut Odds Climb
The crypto exchange also took note of a so-called AI bubble that continues to go strong and a weaker U.S. dollar.
What to know:
- Coinbase Institutional is seeing a potential December recovery in crypto, citing improving liquidity and a shift in macroeconomic conditions that could favor risk assets like bitcoin.
- The firm's optimism is driven by rising odds of Federal Reserve rate cuts, with markets pricing in a 93% chance easing next week, and improving liquidity conditions.
- Several recent institutional developments, including Vanguard's crypto ETF policy reversal and Bank of America's greenlighting of crypto allocations, have contributed to bitcoin's rebound from recent lows.
Top Stories
