Blockchain.com Secures Payment Licence From the Monetary Authority of Singapore

Cryptocurrency holds a distinguished position in the finance world with risky and lucrative features. The crypto market has become saturated despite the risks, attracting millions of investors and traders around the world. This growing industry has its reach in every corner of the globe to a different extent. 

Some parts of the world accept cryptocurrency and other blockchain-based products and services as part-time finances, while others integrate such revolutionary financial tech products into their business models. Crypto is the leading financial medium in the U.S. and UK, rivalling finance to conventional monetary models. 

The growth of cryptocurrency and blockchain technology accessed Singapore, which is a renowned and developed country in Asia. The profitable market of cryptocurrency and Non-Fungible Tokens (NFTs) in Singapore is inevitable, making it a future crypto hub for investors and crypto enthusiasts. Also, the licence from an authoritative institution to Blockchain.com is an indication towards this achievement of Singapore.

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Payment Licence From the Monetary Authority of Singapore

Blockchain.com is a significant platform that offers cryptocurrency products and services on the go. It is a one-stop-shop solution for crypto users and investors where they can trade and swap crypto tokens, including Bitcoin (BTC) and Altcoins. Blockchain.com is one of the earliest crypto platforms in the Decentralised Finance (DeFi) atmosphere. 

Blockchain.com is accessible in various parts of the world, including the UK, the U.S., Europe, and other prominent countries. Singapore is Asia’s rising crypto hub and DeFi trading centre, which is appealing news for crypto exchanges and service providers. Thus, Blockchain.com thrives on making its platform eligible for offering blockchain-based digital tokens. 

This August 7, Blockchain.com publicly congratulated its users that it had become an official crypto-providing platform in Singapore after the Monetary Authority of Singapore (MAS) offered a regulatory licence. MAS supervises the financial transactions and platforms for the said purposes in Singapore, ensuring the integrity and transparency of financial devices. 

Blockchain.com – An Overview

Created in 2011, Blockchain.com marks one of the prominent and earlier crypto and DeFi platforms of the time. The initial functionality of this platform was the tracking and observation of Bitcoin trades, the earliest cryptocurrency. 

Blockchain.com offers numerous services covering every aspect of cryptocurrency and DeFi products. From trading and investment of cryptocurrency to a reputable crypto wallet, Blockchain.com is an all-in-one solution for traders and investors. Apart from these services, it is also one of the best places where crypto fans can lend digital tokens and employ blockchain data-generating systems. 

This pioneer crypto exchange has plenty of features, marking its value and perks for its audience over the globe.

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#1. High-End Security

There is no denying the safety features of Blockchain.com due to its pioneering status. As blockchain technology is a multi-layer system of protection and security, Blockchain.com employs the same security model for the high-end safety of its users.

#2. Cost-Effective Use

Blockchain.com charges network fees which may vary for different transactions. As a cryptocurrency, as a whole, is a cost-effective digital token in terms of transaction cost, this platform does not charge extra. Not just crypto transactions but other services of Blockchain.com do not make their users pay more. 

#3. Up-to-Date Crypto Price Chart

The cutting-edge platform empowers users to seamlessly access and monitor the dynamic fluctuations of crypto prices in real-time while effortlessly navigating through the vast expanse of top-tier blockchains. The implementation of such data generation mechanisms ensures the platform’s sustained relevance within the trading community.

#4. Real-Time Asset Tracking System

Blockchain.com allows traders the ability to monitor the movement of their funds. The order book is an integral component of the trading interface on an exchange. The trading wallets are equipped with a display functionality that allows users to conveniently view the aggregate asset balance of their blockchain wallet.

#5. Robust Customer Support

This pioneer crypto exchange boasts an exceptionally robust customer service system that provides continuous and round-the-clock support for users. The reviews on the platform offer different perspectives from the users. Certain patrons have expressed their admiration for a notably efficacious customer support team, whereas others have voiced their dissatisfaction, lamenting the lack of response to their inquiries.

Singapore’s Crypto Market

Nobody can deny that Singapore leads Asia’s technology and Information Technology (IT) sector. This marvellous country holds an ambitious stance towards advancing its economy with the progress and growth of modern technologies. In the FinTech (Financial Technology) industry, Singapore has a massive acceptance towards cryptocurrency. 

As per a report, Singapore has a robust crypto market with an average of 19 per cent crypto ownership, which is higher than 15 per cent ownership worldwide. These massive statistics reflect its future in the revolutionary DeFi world, including blockchain, cryptocurrency, NFTs, etc. 

A step to allow the leading crypto exchange, Blockchain.com, to officially provide its crypto services in Singapore is evident that it will become a prominent name in the crypto market. The Singapore government has officially committed to invest about 112 million USD or 150 million Singapore dollars. The massive investment will boost the country’s technology industry, especially Blockchain, Web3, Artificial Intelligence (AI), and more. Last but not least, there will be another interesting crypto topic-Twitter, Check this out!!

Frequently Asked Questions

Is Blockchain.com a Reputable Platform?

Blockchain.com is a trustworthy platform for cryptocurrency and blockchain-based products and services. It has been in the market for a long time since it was one of the first platforms that started with the emergence of cryptocurrency, especially BTC. A huge crowd of crypto users trust this platform, while many have posted negative reviews about Blockchain.com.

What Is a Major Payment Institution (MPI) Licence?

MPI licence belongs to the MAS, which serves as a regulatory body for secure and reliable payment services in the country. This licence also prevents investors and payees from becoming liable to specified payment thresholds.

Is Blockchain.com the First Crypto Exchange in Singapore?

Though Blockchain.com has found its way into the crypto market of Singapore, other platforms also offer their services in the country. Zengo, Binance, Okcoin, and Zipmex are some of the crypto exchanges functional in Singapore.