Upbit Singapore Receives Initial Approval for Local Crypto License from Singapore's Central Bank

Upbit Singapore received initial approval from Singapore's central bank and regulator for a local crypto license.

This is an in-principle approval that allows Upbit to continue services to institutional investors as it awaits the full license.

Upbit Singapore was founded in 2018 but considers this a strategic milestone to deepen its presence in Singapore.

The approval reflects Upbit's commitment to establishing Singapore as a leading financial hub.

The approval adds Upbit to 15 total crypto firms with similar licenses for digital payment token services from Singapore's central bank.