Coinbase Increases Its Services in Singapore

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Last Updated on May 17, 2023 by Bitfinsider

Coinbase Global, a cryptocurrency exchange provider, is expanding the services it provides to consumers in Singapore.

The move comes as Coinbase works to expand its worldwide presence in response to a crackdown by regulators in the United States, where the business is based.

“The message here is that the world is moving on with or without the United States, and we are very committed as a global company to continue moving forward on international expansion,” said Hassan Ahmed, Coinbase’s country director for Singapore.

The Monetary Authority of Singapore (MAS) granted Coinbase in-principle authorisation as a significant payments institution in October of last year. Recently, the company obtained a license to run an international exchange based in Bermuda, where it intends to offer derivatives trading.

Coinbase announced this morning that it is launching no-fee USDC purchases for customers using SGD, letting users to receive rewards for holding USDC on the platform, and rolling out USDC order books for more experienced traders, allowing them to trade over 200 assets against USDC.

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