Coinbase Launches Coinbase Business in Singapore Targeting Startups and Small to Medium Enterprises

BlockBeats News, November 12th, according to Techinasia report, Coinbase has launched Coinbase Business in Singapore, marking its first international business expansion outside the United States. The new platform provides cryptocurrency trading and payment services to local startups and small businesses, leveraging a partnership with Standard Chartered Bank to support real-time transfers in Singapore dollars.

Coinbase states that the service allows businesses to settle payments instantly using stablecoins such as USDC and XSGD, aiming to reduce international transaction costs and transaction risks. Currently, the company is accepting early access applications from eligible Singaporean businesses. This move follows Coinbase's recent participation in the Monetary Authority of Singapore's (MAS) BLOOM initiative, which focuses on the digital asset settlement sector in Singapore.