Anchorage Digital Singapore, a crypto platform, has obtained a Major Payment Institution license from the Monetary Authority of Singapore (MAS).
This follows the in-principle approval granted to Anchorage Digital in August 2024.
This licence allows the company to expand its services to include custody, staking, trading, settlement, and fiat on and off ramps for global institutions.
Founded in San Francisco in 2017, Anchorage Digital set up its Singapore branch in 2022 to strengthen its presence in Asia.
The company reports that 90% of its transactions are completed in under 25 minutes using hardware security modules (HSMs) that are not connected to the internet.
Anchorage Digital Singapore also offers 24/7 client support.
It aims to serve institutions looking for regulated digital asset services, drawing on its U.S. experience, where it operates Anchorage Digital Bank N.A., the only federally chartered crypto bank.
Anchorage Digital is backed by investors including Andreessen Horowitz, GIC, Goldman Sachs, KKR, and Visa, and holds a Series D valuation over US$3 billion.
The company operates offices in New York, Porto, Singapore, and Sioux Falls.
“With approval from MAS, Anchorage Digital Singapore is here to meet global demand from leading institutions. Achieving this regulatory milestone marks the latest in our commitment to providing institutions with a safe and secure solution—no matter where they are located around the globe.
As we continue to build the best global stack for institutions in crypto, we look forward to working with regulators and institutions in the region.”
said Nathan McCauley, CEO and Co-Founder of Anchorage Digital.
“Singapore is a key market in traditional finance and crypto alike.
Receiving the license approval from MAS represents a major unlock for top institutions in Singapore and around the world as Anchorage Digital Singapore continues to meet growing demand for safe and secure digital asset infrastructure.”
said Moses Lee, Head of Asia, Anchorage Digital Singapore.
Featured image credit: Edited from Freepik
