Coinbase Secures Singapore License for Crypto Expansion
Coinbase has achieved a significant milestone by obtaining a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS). This license allows Coinbase to expand its digital payment token services to retail and institutional clients in Singapore. Nana Murugesan, VP of Internal and Business Development at Coinbase, sees this as an endorsement and a commitment to Singapore’s growing crypto industry. With Singapore becoming a prominent crypto hub, Coinbase aims to solidify its international presence by offering tailored regional services.
Marathon Digital Boosts Bitcoin Production
Marathon Digital Holdings experienced a 245% increase in Bitcoin production in September 2023, thanks to optimized operations in Texas. The company’s upcoming facility in Garden City and a 20% increase in the U.S. hash rate demonstrate a promising future for Bitcoin. Marathon also benefited from a partnership in Abu Dhabi, contributing an additional 50 BTC to their total holdings of 13,726 BTC by the end of the month. With assets worth $471.2 million, Marathon strengthens its position in the market.
Bitcoin’s recent surge has sparked discussions about its valuation compared to transaction value, suggesting the possibility of a price bubble. Experts predict that Bitcoin might reach $28,500 by the end of October, with $27,500 serving as a critical support level.
VC Spectra Attracts Investors with Decentralized Investment Gains
VC Spectra (SPCT), with its decentralized asset management protocol and trading platform, has become an attractive investment option for those interested in fintech and blockchain. The cryptocurrency reached $0.044 during Stage 3 of its public presale, resulting in significant returns for early backers. VC Spectra aims to democratize access to blockchain and technology investments, allowing individuals from all financial backgrounds to participate confidently.
Investors in the Stage 3 presale of VC Spectra can expect an 82% surge when the token reaches $0.080. The presale also offers a 50% bonus on deposits as an incentive for early supporters.
Hot Take: Embracing Crypto in Singapore and Beyond
Singapore’s approval of Coinbase’s MPI license highlights the city-state’s growing acceptance of cryptocurrency. With Coinbase expanding its services in Singapore and Marathon Digital’s increased Bitcoin production, the crypto industry is experiencing significant developments. Additionally, VC Spectra’s attractive investment opportunities contribute to the industry’s growth and accessibility. As Bitcoin continues to thrive, it is essential for both beginners and seasoned investors to stay informed about these emerging trends and seize potential opportunities.
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