Coinbase Business Launches in Singapore: A Giant Leap in International Expansion for US Crypto Exchange

Coinbase Business’s International Debut in Singapore

Singapore is now home to the highly-anticipated international launch of Coinbase Business, a comprehensive crypto operating platform focusing on small businesses and startups. This significant event marks the first overseas expansion for Coinbase, the major American cryptocurrency trading platform. Just a few months ago, in June, the world was first introduced to Coinbase Business. The revolutionary platform has now emerged beyond US borders, debuting in Singapore. Coinbase Business is an all-in-one operating system in the world of cryptocurrencies designed especially for small businesses and startups. One of the functionalities of the platform is to facilitate the users to trade in a Coinbase-supported stablecoin, the USD Coin (USDC).

The Unique Offering of Coinbase Business

The serving secret of Coinbase Business is leveraging the speed and stability of digital dollars such as USDC, creating an integrated platform for businesses. This groundbreaking platform offers unmatched benefits, including secure and seamless trading, alongside instant settlement with minimal fees and zero chargebacks. The platform also boasts features that allow businesses to manage their crypto assets and automate several financial workflows effectively. This makes Coinbase Business more accessible and user-friendly for small businesses and startups venturing into the crypto world.

The Solid Partnership with Standard Chartered

The expansion of Coinbase Business to Singapore wouldn’t have been possible without the cooperation of its banking partner, Standard Chartered. This local bank serves as a foundation for Coinbase Business, enabling Singapore dollar transfers for retail and business clients alike. With the support of Standard Chartered, Coinbase Business can offer an extended suite of innovative tools to Singapore businesses.

Coinbase Business’s Launch Builds on Long-standing Collaboration

The launch of Coinbase Business in the Lion City is a significant milestone in Coinbase’s long-standing partnership with Singapore’s financial regulator, the Monetary Authority of Singapore (MAS). This collaboration dates back to October 2023 when MAS granted a Major Payment Institution (MPI) license to Coinbase. Notably, this license allows Coinbase to extend its digital payment token services to both individual and institutional clients in Singapore.

MAS and Coinbase’s Shared Vision

Recently, Coinbase joined hands with MAS once more, announcing its participation in the MAS BLOOM (Borderless, Liquid, Open, Online, Multi-currency) program. This innovative program aims to broaden financial settlement capabilities by enabling the use of tokenized bank liabilities and regulated stablecoins. This constructive collaboration epitomizes Coinbase’s active effort to create a regulated, compliant infrastructure that supports the upcoming era of finance.

Summary

Coinbase Business’s international debut in Singapore heralds a new era for the crypto world. Offering vast potential to startups and small businesses, this platform is all set to make crypto trading more accessible and manageable. Backed by powerful partnerships and supporting cutting-edge technology, Coinbase Business’s Singapore expansion can be regarded as a testament to the rising prominence of cryptocurrency globally. The full effects of this launch are yet to be explored, and the company, its partners, and most importantly, its users, look to the future with immense potential and promise.

Looking Forward

As the world of financial technology continues to transform and evolve, so too will platforms like Coinbase Business. With Singapore as its launching pad, the sky’s the limit when it comes to international expansion. How this platform continues to grow and adapt, and what benefits it brings to its users around the world, remain exciting prospects to watch in the coming years.