Crypto brokerage Blockchain.com received a major payment institution (MPI) license from the Monetary Authority of Singapore (MAS), according to a press release on Monday. The license allows it to provide regulated digital payment token (DPT) services to its global institutional and accredited investor customers.

The company had received an in-principle approval from MAS last year.

“Singapore represents a large, profitable trading hub for Blockchain.com,” the company said in its press release. The country currently serves as Blockchain.com’s Southeast Asia headquarters.

Singapore has awarded several licenses to crypto companies lately. Both crypto exchange Crypto.com and stablecoin issuer Circle received digital token licenses from MAS in June.