Coinbase Extends Footprints to Singapore

The US-based crypto exchange Coinbase prepares to ramp up its international expansion over the next 8 weeks, having began this journey in Singapore.

The company's upgraded retail platform, in addition to its new strategic banking partnership with Standard Chartered, aims to provide clients with a seamless, safe, and convenient experience when trading digital assets.

Effective immediately, customers in Singapore can easily transfer funds to and from their Coinbase account using any local bank in Singapore for free. This means they can easily cash in or cash out of their Coinbase account using bank transfers, giving more flexibility and control over their assets.

"We are proud to have received In-Principle Approval (IPA) from the Monetary Authority of Singapore (MAS) under the Payment Services Act (PSA) to provide regulated Digital Payment Token (DPT) services in the island state. Compliance has always been a top priority for us, and we will continue to strive to be the most trusted and secure platform to trade digital assets," said the crypto exchange.

"As Singapore aims to become a global crypto and blockchain hub, we are committed to supporting these ambitions and bringing the best product experience to the Singapore market."

Earlier this month, Coinbase has acquired One River Digital Asset Management​ (ORDAM), a subsidiary of One River Asset Management. As an SEC-registered investment adviser, ORDAM would form the foundation of Coinbase Asset Management and offer investment advisory services to a range of new and existing institutional clients.