Coinbase is pushing ahead with a significant expansion of its Singapore operations, planning to grow its local workforce from 150 to approximately 200 employees before the close of 2026, according to a report from the Business Times.
New Office, New Hires
The US-based cryptocurrency exchange inaugurated a new Singapore office at One Raffles Quay on Wednesday, with the hiring drive centred on engineers, customer service staff, relationship managers, and institutional sales representatives. Hassan Ahmed, Coinbase’s country director for Singapore, shared the expansion plans in an interview with the Business Times.
Ahmed described Singapore as an increasingly strategic hub for cryptocurrency innovation, underlining the exchange’s commitment to deepening its footprint in the city-state.
Regulatory Anchor: The MAS License
Coinbase’s Singapore ambitions are underpinned by a major payment institution license it received from the Monetary Authority of Singapore (MAS) in October 2023. That approval, granted by the city-state’s central bank, opened the door for Coinbase to offer services to Singaporean individuals and institutions.
Singapore governs digital payment token service providers through a licensing regime administered by the MAS. As of the date of the report, the MAS directory listed 38 licensed entities in the digital payment token service category.
Tighter Rules, Fewer Players
The regulatory landscape in Singapore became more selective in 2025, when the MAS tightened its licensing requirements, effectively pushing unlicensed firms out of the market. Coinbase, already holding its major payment institution license, is positioned as one of the licensed operators that stood to benefit as smaller or unlicensed competitors exited.
