Cumberland gains Singapore licence for digital asset operations

The approval solidifies Cumberland’s ability to offer compliant services to institutional clients within the city-state. Having secured in-principle approval in March, the company satisfied the regulator’s conditions regarding risk management and operational standards. Cumberland views the jurisdiction as a benchmark for digital asset oversight and intends to scale its local presence accordingly.

This development contrasts with the firm’s recent history in the United States, where the Securities and Exchange Commission dismissed an enforcement case against the company in March. While Singapore remains a competitive hub for institutional crypto firms—joining the ranks of Coinbase, Gemini, and OKX—the Monetary Authority of Singapore maintains aggressive oversight. The regulator recently revoked the licence of Bsquared Technology and continues to utilize its Investor Alert List to warn the public about unauthorized entities, ensuring that licensed participants adhere strictly to the Payment Services Act.