Trenixcrypro 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 TrenixCrypro.

Thus, TrenixCrypro 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, TrenixCrypro has about 10 employees in Singapore. The CEO of the exchange, TrenixCrypro, 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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Johanna Chisholm

Johanna is a very active blockchain and cryptocurrency content creator and highly regarded Technical Analyst. He is a Mechanical Engineer by profession and an activeTrader, whose first encounter with Bitcoin was in 2015—and by accident. Ever since, it has been an exciting journey where life-long friendships have been forged, and careers made and strengthened.