Coinbase has introduced free fiat deposits and withdrawals via local bank transfers for its customers in Singapore. A user can now transfer funds to and from his Coinbase account through his standard chartered bank at no additional charge.
Coinbase Launches Zero-Fee Bank Transfers in Singapore
It seems that the company’s move will make it easier for the exchange’s Singaporean customers to buy bitcoin (BTC) and other digital assets. It will also make Сoinbase more competitive as other digital asset trading platforms like Crypto.com and Gemini offer similar services in the country.
Singapore’s financial regulator, the Monetary Authority of Singapore (MAS), has announced plans to introduce tougher rules for cryptocurrency market participants. And the sudden collapse of FTX last November has heightened scrutiny from government officials and made it all the more important to introduce stricter regulatory guidelines for cryptocurrencies.
Brian Armstrong’s Сoinbase assures its customers that their funds are safe on April 13, amidst a banking crisis ever seen by big US banks like Silicon Valley Bank and Signature Bank. According to the reports of crypto.news on March 13, Сoinbase has halted trading of Binance USD (BUSD) on its platform due to regulatory issues. However, the company has clarified that it will continue to provide users with staking services despite the SEC’s crackdown on staking service providers like Kraken.
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