Coinbase launches business platform in Singapore for local startups and SMEs

• Coinbase Business launches in Singapore for startups and SMEs.
• The platform allows USDC payments, enabling instant settlement with lower transaction costs.
• Coinbase Business was launched in partnership with Standard Chartered, supporting SGD transfers and APIs.

Coinbase has officially launched Coinbase Business in Singapore, marking the first international expansion of its new business-focused platform.

The move positions the major US crypto exchange to bring its stablecoin-powered payment solutions to startups and small and medium-sized enterprises (SMEs) in the region.

With a focus on digital innovation, the platform will simplify crypto payments, reduce transaction costs, and support business growth in a regulated environment.

Coinbase Business targets startups and SMEs

Coinbase Business offers an all-in-one crypto operating platform that enables companies to send and receive payments in USDC, Coinbase’s dollar-backed stablecoin.

The platform also allows businesses to manage digital assets, automate financial workflows, and reconcile transactions seamlessly with their accounting and enterprise systems.

By leveraging the speed and stability of USD Coin (USDC), businesses can settle payments instantly, avoid chargebacks, and significantly reduce cross-border transaction costs, making it particularly attractive for startups and SMEs operating in international markets.

The Singapore launch reflects Coinbase’s strategy to expand its services beyond the United States while focusing on the unique needs of smaller businesses that often face friction in adopting cryptocurrency solutions.

Early access applications are currently being accepted from eligible Singapore-based firms, signalling Coinbase’s intent to foster a strong initial user base.

Collaboration with Standard Chartered

The launch in Singapore is supported by a strategic partnership with Standard Chartered, which facilitates real-time transfers in Singapore dollars (SGD).

This collaboration allows Coinbase Business users to conduct seamless local and cross-border transactions while integrating stablecoin payments into existing financial operations.

Businesses can also leverage the platform’s APIs to link invoicing and enterprise resource planning systems, enabling automated reconciliation and smoother accounting processes.

With Standard Chartered’s banking support, Coinbase Business provides tools for crypto trading, global payouts, and payment links with a nominal transaction fee.

This combination of banking infrastructure and digital currency capabilities creates a hybrid model that blends traditional finance with innovative crypto solutions.

Regulated expansion and MAS collaboration

Coinbase’s Singapore expansion builds upon its regulatory engagement with the Monetary Authority of Singapore (MAS).

In October 2023, Coinbase Singapore Pte. Ltd. received a Major Payment Institution (MPI) license for Digital Payment Token and Cross-border Money Transfer services.

While the license does not currently cover domestic money transfers or merchant acquisition services, it enables Coinbase to offer instant stablecoin settlement and cross-border payments to businesses that fall within the permitted scope.

Further strengthening its local footprint, Coinbase recently joined the MAS BLOOM initiative, which focuses on expanding financial settlement capabilities using tokenised bank liabilities and regulated stablecoins.

The program demonstrates how Coinbase is actively working to develop compliant infrastructure that supports the next generation of business payments, combining regulatory oversight with innovative financial technology.

As more businesses in Singapore explore digital asset adoption, Coinbase Business could play a pivotal role in reshaping how companies transact locally and globally.

The combination of fast settlements, low fees, and API-enabled automation addresses longstanding challenges in cross-border payments, while reinforcing Coinbase’s vision of a regulated, inclusive, and innovative financial ecosystem for enterprises of all sizes.

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