Coinbase goes beyond the US borders and does it on a grand scale. Singapore has become the first international market for Coinbase Business – a platform that aims to change the way startups and small businesses operate in the world of cryptocurrencies.
Coinbase Business puts everything in one place
Launched in June 2024 in the US market, Coinbase Business now comes to Singapore as an end-to-end operations platform. Startups and SMEs will get everything in one place: USDC stablecoin payments, cryptocurrency asset management and financial process automation. It sounds like the dream of a CFO who is fed up with traditional banking.
By leveraging the speed and stability of digital dollars like USDC, we offer businesses a platform to trade seamlessly and securely, with instant settlement, minimal fees and zero risk of chargebacks
– declares Coinbase.
Strong arguments, especially in the context of international transactions.
Standard Chartered enters the game
The key to success is working with Standard Chartered, Coinbase’s local banking partner. This allows Singaporean companies to freely switch between Singapore dollars and cryptocurrencies. Included in the package:
- crypto trading,
- global payouts,
- payment links with 1% transaction fee
- and asset management with compensation for holding USDC.
Regulatory foundation
Coinbase is not entering Singapore by accident. In October 2023, the Monetary Authority of Singapore (MAS) granted the exchange a Major Payment Institution (MPI) license, opening the door to serving both individual and institutional clients.
Moreover, last month Coinbase joined the MAS BLOOM (Borderless, Liquid, Open, Online, Multi-currency) program, which aims to expand financial settlement options through tokenized bank liabilities and regulated stablecoins.
This collaboration with MAS demonstrates how we are actively building the regulated, compliant infrastructure that underpins the new era of finance
– emphasizes Coinbase.
Singapore is just the beginning, but the choice of this particular market is not accidental. The city-state has been building a reputation as a crypto-friendly hub in Asia for years, with clear regulations and a favorable attitude to fintech innovations. It’s the perfect place to test international expansion. For local startups and companies, Coinbase Business can mean a real competitive advantage. Instant settlements in USDC, minimal fees and no problems with chargebacks are arguments that sound like science fiction in the world of traditional international payments.
