Coinbase has secured a full payments license from Singapore’s Monetary Authority of Singapore (MAS), granting it the authority to provide digital payment token services in the thriving Asian crypto market. This strategic move not only strengthens Coinbase’s presence but also holds potential implications for top altcoins.
Let’s cover the recent developments and forecasts on Ethereum (ETH) and VC Spectra (SPCT). Is any of them a good buy amid this development?
- Coinbase obtained a full payments license from Singapore’s central bank.
- Ethereum (ETH) is predicted to hover around $1,800 in the month of October.
- VC Spectra (SPCT) gained attention as a promising investment opportunity.
Coinbase Secures Singapore License for Digital Payment Services
Coinbase, the prominent cryptocurrency exchange, has obtained a full payments license from Singapore’s central bank, the Monetary Authority of Singapore (MAS).
This Major Payment Institution (MPI) license enables Coinbase to provide digital payment token services to individuals and institutions in Singapore, enhancing its presence in the thriving Asian crypto market. The approval came after an initial nod in the previous year, showcasing Coinbase’s commitment to expanding its operations.
Singapore has gained recognition as a hub for digital asset companies, and Coinbase regards it as a strategic market. The MAS places significant emphasis on stringent anti-money laundering controls for crypto firms seeking licenses.
Now, before delving into the factors influencing Ethereum’s (ETH) price, let’s address the question on many investors’ minds: Is Ethereum a good investment?
Ethereum: The Promising Path of ETH for 2023 and Beyond
Ethereum (ETH) has shown resilience in its price performance. Starting from $1,598 on September 28, the cryptocurrency has steadily climbed to $1,646 as of October 4. As a result, analysts say Ethereum’s (ETH) future looks promising. And here’s why.
Firstly, Coinbase’s acquisition of a full payments license in Singapore holds potential implications for Ethereum (ETH). It could boost Ethereum’s adoption in the region, enhance liquidity, influence regulatory perspectives, and bolster market sentiment.
Such developments often signal confidence and growth prospects for the broader cryptocurrency market. Grayscale Investments, in partnership with NYSE Arca, seeks approval from the SEC to convert its Ethereum Trust (ETHE) into an Ethereum exchange-traded fund (ETF).
Furthermore, ETHE, the world’s largest Ether investment product with nearly $5 billion in assets, reflects the growing trend of mainstream adoption and regulatory acceptance of cryptocurrencies, a potentially bullish sign for the ETH price prediction and the broader crypto market.
Based on these factors, the analysts’ ETH price predicton is to continue its upward trajectory. For the month of October, price predictions hover around $1,800, reflecting the current positive sentiment and market dynamics. Looking ahead, the ETH price prediction for November is anticipated to grow even stronger, potentially reaching $1,900.
VC Spectra’s (SPCT): Good Crypto to Buy In October
Coinbase’s recent achievements may have an impact not only on Ethereum (ETH) but also on other cryptocurrencies. One noteworthy cryptocurrency poised to benefit from these developments is VC Spectra (SPCT).
VC Spectra (SPCT) has been gaining attention as a promising investment opportunity. Its recent private seed sale successfully raised $2.4 million, and it has since launched a public presale with multiple stages, offering investors exclusive access to new ICOs.
Notably, SPCT tokens have already experienced significant surges, particularly in Stage 3 of the presale, where prices soared to $0.044 due to high demand.
VC Spectra (SPCT) offers more than just potential profits. As a decentralized hedge fund, it rewards users with quarterly dividends and buybacks from its investment profits, providing an additional layer of value to its token holders.
Moreover, users gain access to exclusive opportunities in seed/private sales and voting rights within the VC Spectra platform.
The SPCT token, built on the Bitcoin blockchain, serves various purposes, including exchange, decentralized trading, asset management, and covering transaction fees on the VC Spectra platform. Its deflationary nature, with a burn mechanism, reduces token circulation over time, potentially driving scarcity and value appreciation.
Investors in VC Spectra (SPCT) have witnessed remarkable gains during this presale phase, with Stage 1 investors enjoying a 450% increase and Stage 2 investors gaining 300%. For those considering entering at the altcoin price of $0.044, an 82% surge to $0.080 by the presale’s end is a promising prospect.
Learn more about the VC Spectra presale here:
Disclaimer: This article is provided for informational purposes only and is not intended as investment advice. The content does not constitute a recommendation to buy, sell, or hold any securities or financial instruments. Readers should conduct their own research and consult with financial advisors before making investment decisions. The information presented may not be current and could become outdated.
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