Coinbase secures Major Payment Institution license in Singapore By Investing.com
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Coinbase (NASDAQ:), the prominent cryptocurrency exchange, has recently secured a Major Payment Institution license in Singapore, signaling an important milestone in its expansion into the Asian market. The announcement came on Monday, despite the ongoing lawsuit with the U.S. Securities and Exchange Commission.
Coinbase, with a market cap of $17.81 billion according to InvestingPro Data, is making its mark in the Asian markets. However, it’s important to note that the company’s stock generally trades with high price volatility, as per InvestingPro Tips. This aspect, coupled with the fact that the company’s price has fallen significantly over the last five years, may be indicative of the challenges that lie ahead.
Hassan Ahmed, Coinbase Singapore’s director, celebrated the conclusion of their licensing journey and commended the collaboration with the Monetary Authority of Singapore (MAS). The license will allow Coinbase, whose stock price closed at $75.16 previously, to further tailor its products to meet local demands, strengthening its position in a region recognized for its crypto-friendly environment.
InvestingPro Tips also highlights that Coinbase does not pay a dividend to shareholders. This information could be significant for potential investors who are considering the company’s financial health and future prospects.
The company’s next earnings date is set for November 7, 2023, as per InvestingPro Data, which will be a critical moment for assessing the impact of this recent expansion. For more insights like these, consider exploring InvestingPro’s additional tips, which provide valuable guidance for investors.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
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© Reuters
Coinbase (NASDAQ:), the prominent cryptocurrency exchange, has recently secured a Major Payment Institution license in Singapore, signaling an important milestone in its expansion into the Asian market. The announcement came on Monday, despite the ongoing lawsuit with the U.S. Securities and Exchange Commission.
Coinbase, with a market cap of $17.81 billion according to InvestingPro Data, is making its mark in the Asian markets. However, it’s important to note that the company’s stock generally trades with high price volatility, as per InvestingPro Tips. This aspect, coupled with the fact that the company’s price has fallen significantly over the last five years, may be indicative of the challenges that lie ahead.
Hassan Ahmed, Coinbase Singapore’s director, celebrated the conclusion of their licensing journey and commended the collaboration with the Monetary Authority of Singapore (MAS). The license will allow Coinbase, whose stock price closed at $75.16 previously, to further tailor its products to meet local demands, strengthening its position in a region recognized for its crypto-friendly environment.
InvestingPro Tips also highlights that Coinbase does not pay a dividend to shareholders. This information could be significant for potential investors who are considering the company’s financial health and future prospects.
The company’s next earnings date is set for November 7, 2023, as per InvestingPro Data, which will be a critical moment for assessing the impact of this recent expansion. For more insights like these, consider exploring InvestingPro’s additional tips, which provide valuable guidance for investors.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
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