Robinhood Receives "Approval in Principle" in Singapore to Prepare for Launch of Brokerage Services

CoinFeed reported on April 23 that, according to the Robinhood blog, the Monetary Authority of Singapore (MAS) has granted Robinhood Singapore Pte. Ltd. In-Principle Approval (IPA) to provide securities brokerage services, paving the way for its comprehensive brokerage services in Singapore, including securities, exchange-traded derivatives, custody, financing, and collective investment products. Singapore will serve as Robinhood's Asia-Pacific headquarters, complementing its subsidiary Bitstamp Asia Pte. Ltd.'s existing MAS Large Payment Institution (MPI) license, thus strengthening its presence in the Asia-Pacific region.