As Binance stays and Tokenize leaves, Singapore’s crypto sector is seeing change
Other larger players such as Bybit and Bitget are also mulling possible exits, as new regulatory standards for the sector set in
Add BT as a preferred source
[SINGAPORE] Tokenize Xchange announced on Sunday (Jul 20) that it would exit Singapore after failing to secure a Major Payment Institution (MPI) licence, typically necessary for digital payment token service providers (DPTSPs).
It is set to lay off its 15 staff, despite having had plans to expand its office in Singapore to 100 people and raising US$11.5 million in funding.
Other larger players such as Bybit and Bitget are also mulling possible exits, Bloomberg reported recently.
TRENDING NOW
ABSD deadline extended to up to 7 years for developers of large en bloc sites to encourage reuse of land
15-month wait-out curb lifted for private property owners buying HDB resale flats
Mortgagee-sale listings hit six-year high in H1 2026 as financing conditions tighten
Knight Frank winds down real estate agency unit, agents to move to OrangeTee & Tie
