Coinbase Expands to Singapore: Crypto Adoption Across the Country to Grow Further

Crypto News – The stablecoin USDC and the larger cryptocurrency market are now easily accessible to customers in Singapore who may transfer US dollars (USD) to and from their Coinbase accounts utilizing the bank-based SWIFT network.

Coinbase Expands to Singapore: Crypto Adoption Across the Country to Grow Further

With the goal of empowering customers to traverse the world of digital assets, Coinbase‘s overarching aim is better served with the inclusion of USD transfers. Commission-free trading of USDC with US dollars is now available to Singaporean customers, substantially streamlining the process of obtaining USDC. These customers already benefit from commission-free trading of USDC with Singapore dollars (SGD).

Coinbase and Singapore’s Collaboration in the Past

For Coinbase‘s foreign expansion plan, Singapore continues to be a major focus market. One of Singapore’s previous projects involved integrating the digital identity system, Singpass, to expedite the onboarding process for new users on the platform.

The Monetary Authority of Singapore (MAS), the primary financial regulator in Singapore, granted Coinbase a Major Payment Institution (MPI) license in October of this year. Furthermore, Coinbase‘s dedication to promoting investment activity in the Asia-Pacific area is further demonstrated by the development of a specialized team in the city.