Coinbase Business officially launches in Singapore, reshaping the future of payments with USDC πΈπ¬π΅
Leading U.S. crypto exchange Coinbase has announced its international expansion with the launch of Coinbase Business in Singapore β marking its first major move outside the U.S. market. First launched in June of this year, Coinbase Business is designed as an all-in-one financial operating platform for startups and small-to-medium enterprises (SMEs), allowing users to send and receive payments in USDC, manage digital assets, and automate financial workflows. According to Coinbase, leveraging the speed and stability of the USDC stablecoin enables businesses to transact with
Leading U.S. crypto exchange Coinbase has announced its international expansion with the launch of Coinbase Business in Singapore β marking its first major move outside the U.S. market.
First launched in June of this year, Coinbase Business is designed as an all-in-one financial operating platform for startups and small-to-medium enterprises (SMEs), allowing users to send and receive payments in USDC, manage digital assets, and automate financial workflows.
According to Coinbase, leveraging the speed and stability of the USDC stablecoin enables businesses to transact with instant payments, low fees, and no chargeback risk β delivering superior security and efficiency compared to traditional payment systems.
π€ Strategic partnership with Standard Chartered
Coinbase is rolling out the service through a partnership with Standard Chartered, enabling SGD transfers for both individual and business customers. With this support, Coinbase Business gives Singapore-based companies a full suite of tools, including: crypto transactions, global payments, payment links at just a 1% transaction fee, and asset management with rewards on USDC balances.
π¦ Officially licensed by the Monetary Authority of Singapore (MAS)
Notably, Coinbase received a Major Payment Institution (MPI) license from MAS in October 2023, allowing the exchange to offer digital payment token services to both retail and institutional customers in Singapore.
Recently, Coinbase also joined MAS's BLOOM program (Borderless, Liquid, Open, Online, Multi-currency) β an initiative aimed at expanding cross-border payment capabilities through the use of tokenized bank assets and regulated stablecoins.
"We are working to build financial infrastructure that is transparent, compliant, and ready for the new era of finance," Coinbase emphasized.
The expansion into Singapore signals Coinbase's aggressive global strategy, while further cementing USDC's role as the bridge between traditional finance and the Web3 economy. πβ¨