Coinbase has opened up its Coinbase Business in Singapore which is its first move to other countries besides the USA.
The newly launched platform which was first shown in June is directed at startups and smaller businesses and it offers a mixed service of crypto that allows users to make payments and receive payments in USDC, the stablecoin of Coinbase that is pegged to the US dollar.
Moreover, digital asset management, financial workflows automation, and cost-effective speedy communication are some of the advantages that will accrue to the companies through the use of Coinbase Business.
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“Businesses are provided a platform that guarantees instant settlement, minimal fees, and zero chargebacks by harnessing the speed and stability of digital dollars, such as USDC.”
Coinbase
Coinbase Teams Up with Standard Chartered to Launch Business Platform in Singapore
Coinbase has officially launched Coinbase Business in Singapore, working together with Standard Chartered to make Singapore dollar transfers possible for both individual and business customers.
The platform gives businesses in Singapore a range of practical tools. Users can trade crypto, make global payments, generate payment links with just a 1% fee, and earn rewards on USDC holdings.
This move also builds on Coinbase’s ongoing relationship with the Monetary Authority of Singapore (MAS). Back in October 2023, MAS granted Coinbase a Major Payment Institution (MPI) license, allowing the company to offer digital payment token services to both individuals and institutions across Singapore.
