Singapore's crypto industry has experienced significant growth this year, with the Monetary Authority of Singapore (MAS) granting licenses to 13 firms, more than double the number issued in 2022. This surge signals Singapore's commitment to fostering a vibrant and well-regulated crypto ecosystem. The list of companies that received licenses in 2023 includes notable players such as OKX, Upbit, Anchorage Digital, BitGo, and GSR Markets. These licenses allow the firms to provide a range of cryptocurrency-related services, including trading, custody, and payment processing. Singapore's proactive approach to crypto regulation has positioned it as a leader in the industry, attracting businesses from around the world. This growth is in stark contrast to rival Hong Kong, which has struggled to keep pace due to China's crackdown on crypto.