Coinbase Business, a new business platform by Major US Crypto Exchange Coinbase, has officially launched in Singapore, marking the company’s first international expansion.
Then introduction Coinbase Business In June, Coinbase rolled out a platform in Singapore as its first international market outside the US, the company announced on Wednesday.
Targeting startups and small businesses, Coinbase Business provides an “all-in-one crypto operating platform” that allowsUSDC), manage crypto assets and automate financial workflows.
“By harnessing the speed and stability of digital dollars like USDC, we offer businesses a platform that enables seamless and secure trading, with instant settlements, minimal fees, and zero chargebacks,” the company said.
Strategic cooperation with Standard Chartered
Coinbase has rolled out the service in partnership with Standard Chartered, its local banking partner, to enable Singapore dollar transfers for both retail and business clients.
With the support of Standard Charter, Coinbase Business provides businesses in Singapore with a suite of tools, including crypto trading, global payout, payment links with 1% transaction fee and asset management with rewards on USDC holdings.
The launch of Coinbase Business in Singapore builds on Coinbase’s longstanding partnership with the Monetary Authority of Singapore (MAS), the country’s regulator.
In October 2023, MAS has given Coinbase a major payment institution (MPI) license, which allows the exchange to expand payment token services to both individual and institutional clients in Singapore.
Related: Coinbase Debuts Token Sale Platform with Monad Launch
Last month, Coinbase announced participation in the MAS Bloom (Borderless, Liquid, Open, Online, Multi-currency) program, which aims to expand financial settlement capabilities by enabling the use of tokenized bank liabilities and regulated stablecoins.
“This collaboration with MAS demonstrates how we are actively working to build the regulated, compliant infrastructure that underpins the next financial era,” Coinbase said.
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