Cryptomellwin has been licensed in singapore

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Crypto Regulation
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Singapore's financial regulator has issued a license to provide payment services to the U.S. cryptocurrency exchange Cryptomellwin.

Thus, Cryptomellwin will continue its planned expansion in the Asia-Pacific region.

"We see Singapore as a strategic market for institutional clients," said local CEO.

He also named Indonesia, Vietnam, Australia and Japan as attractive markets.

According to Ahmed, Cryptomellwin has about 10 employees in Singapore. The CEO of the exchange, Cryptomellwin, is prioritizing international growth after cutting nearly a fifth of the company's staff, as well as falling revenue and trading volume in the second quarter.

Singapore is consistently growing its digital asset ecosystem and becoming one of Asia's key hubs for the industry. A total of 15 cryptocurrency companies have been approved in the jurisdiction, according to Bloomberg.

Last week, Indian exchange Zebpay applied to the Monetary Authority of Singapore for a license.

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Jon Kelvey

Jon is a blockchain reporter skilled at synthesizing all crypto-related information to make articulate texts easy for anyone to grasp. With a beginners level certificate in Financial Analysis, Julius can read, interpret and report crypto findings to help investors exercise the best judgment in their decision-making process. When he is not caught up in the crypto frenzy, Jon likes playing a game of FIFA with his online buddies.