Key Takeaways
- Coinbase Business has selected Singapore as its first international market outside the U.S. for its “all-in-one crypto operating platform,” targeting startups and small to medium-sized enterprises (SMEs).
- The platform allows businesses to use the stablecoin USDC for payments, offering benefits like instant settlement, minimal fees, and zero chargebacks compared to traditional payment rails.
- The launch is backed by a strategic partnership with local banking partner Standard Chartered to enable seamless Singapore dollar (SGD) transfers and builds on Coinbase’s Major Payment Institution (MPI) license from the MAS.
Coinbase Business Targets Asia with Singapore Launch
Coinbase is officially going global, and they picked Singapore for the first international rollout of their new Coinbase Business platform! Launched earlier in June, this “all-in-one crypto operating platform” is now available to Singaporean startups and small businesses. It makes life simple: users can send and receive payments instantly using the stablecoin USDC, easily manage all their crypto, and automate annoying financial work.
Coinbase is basically taking on the banks. They argue that by using fast, stable digital dollars like USDC, they can give businesses instant settlement, tiny fees, and zero chargebacks, a huge advantage over the slow, expensive process of conventional cross-border banking and credit cards. This strategic expansion is perfectly timed to serve digital SMEs who are demanding an easier, cheaper, and fully compliant way to handle payments, reinforcing Coinbase’s vision for a regulated global finance system.
Strategic Cooperation with Standard Chartered and Regulatory Backing
The secret sauce behind Coinbase Business’s smooth rollout in Singapore? Traditional banking muscle meets cutting-edge crypto. They’re launching hand-in-hand with Standard Chartered, their established local bank partner. This partnership is huge because it allows seamless transfers in Singapore dollars (SGD) for everyone. The platform itself offers a great suite of tools: trading, global payments, and those sweet payment links with just a 1% transaction fee (plus rewards on any USDC you hold).
Even more crucial is the regulatory stamp of approval. This launch is built on Coinbase’s rock-solid relationship with the Monetary Authority of Singapore (MAS). They secured the necessary Major Payment Institution (MPI) license back in October 2023, which basically means MAS trusts them to handle digital payment token services for the city-state’s biggest and smallest clients.
Add to that their participation in the MAS BLOOM program, which is all about making stablecoins and tokenized bank money work better for settlement, and you realize Coinbase Business is positioned as the most compliant and trustworthy player for digital commerce across Asia.
Final Thoughts
Coinbase Business’s strategic launch in Singapore, backed by the MAS license and the Standard Chartered partnership, is a transformative step for regional crypto-commerce. By offering USDC payments with compelling fee and settlement advantages, the platform is set to become a vital operational tool for Asian startups and SMEs, accelerating the adoption of stablecoin-based payments in a highly regulated environment.
Frequently Asked Questions
What stablecoin is central to the Coinbase Business payment platform?
The platform primarily utilizes the Coinbase-backed stablecoin USDC for payments and asset management.
What fee applies to the Coinbase Business payment links?
The payment links feature is offered with a low 1% transaction fee for issuers.
What is the significance of the Standard Chartered partnership?
Standard Chartered acts as Coinbase’s local banking partner, enabling seamless Singapore dollar (SGD) transfers for both retail and business clients.
