Singapore has strengthened its position as a leading center of the cryptocurrency market, issuing 13 new crypto licenses to digital asset firms. This marks a twofold increase compared to the previous year and includes major global companies such as OKX, Upbit, Anchorage, BitGo, and GSR.
As noted by Bloomberg, these licensing achievements are part of broader efforts by Singapore and Hong Kong to attract digital asset companies to their shores through regulatory frameworks, tokenization projects, and 'sandbox' initiatives.
However, while both cities compete for dominance in the cryptocurrency space, Singapore is pulling ahead in terms of licensing and regulatory transparency.#BtcNewHolder
