Cumberland is making strides in the Asia-Pacific market with its Singapore division, having successfully acquired in-principle approval for a Major Payment Institution License from the Monetary Authority of Singapore (MAS).

“We look forward to expanding our presence in this important region, bringing our disciplined approach to compliance, proven market expertise, and commitment to the digital asset ecosystem to counterparties in Singapore and beyond,” said the company in a statement.

Cumberland

Cumberland also clarified that while the in-principle approval does not equate to a full license yet, the MAS could grant a complete license if certain conditions are met and no significant adverse developments occur during the application process.

Cumberland’s recent movements follow the resolution of an unregistered securities case against it by the US Securities and Exchange Commission on March 4, 2025, indicating a positive shift for the firm in the regulatory landscape.

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