TechFlow reports that as of December 14, approximately 30 payment companies have obtained digital token services licenses from the Monetary Authority of Singapore (MAS), including U.S.-based firms Coinbase and Ripple, as well as Hong Kong-headquartered Futu.
With the U.S. approving spot ETFs and Trump's re-election as president, cryptocurrency adoption continues to rise among Gen Z and even Baby Boomers. Meanwhile, MAS has begun experimenting with a digital Singapore dollar. According to a survey conducted earlier this year by exchange Independent Reserve, around 40% of Singaporean investors own cryptocurrency.
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