Coinbase launches all-in-one crypto payment platform for businesses in Singapore
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Coinbase has launched its all-in-one financial platform, Coinbase Business, in Singapore to support startups and small businesses with faster payments and digital asset management.
According to a November 12 announcement from the company, the launch represents Coinbase Business’s first international expansion outside the United States.
“Singapore has always been a beacon of digital innovation and a crucial financial gateway to Asia.
Now, the nation’s dynamic ecosystem of startups and Small-to-Medium Businesses (SMBs) can access a modern, compliant, crypto-native operating account designed to eliminate the friction of traditional finance,” Coinbase said in the announcement.
What is Coinbase Business?
Coinbase Business is an all-in-one crypto operating platform that was first announced in June this year.
The platform offers instant payments, portfolio management, and accounting integration by leveraging stablecoins like USDC and XSGD to enable faster and cheaper transactions without chargebacks.
With the Singapore launch, local businesses will be able to trade and manage crypto assets directly from their operating accounts and also access global payouts through integrated APIs for vendor and payroll automation.
Further, onboarding the platform is free with approvals in as little as two days, and it also offers reconciliation support via leading platforms like QuickBooks and Xero.
For its Singapore launch, Coinbase has partnered with Standard Chartered. The bank will handle real-time Singapore dollar transfers for both retail and business customers.
Coinbase views Singapore as a “global leader in digital innovation,” which is why the city-state was chosen as the first market for its international rollout.
Beyond that, the exchange has also entrenched its presence in the country by participating in the BLOOM initiative led by the Monetary Authority of Singapore to advance programmable digital asset settlement under the “Agentic Payments” workstream.
“Singaporean companies ready to upgrade their financial stack and embrace the future of money can apply for early access to Coinbase Business today,” Coinbase added in its latest announcement.
Coinbase expands its operations
It has been a busy few weeks for Coinbase, marked by major strategic acquisitions and new product launches.
Earlier this week, Coinbase launched a new platform for retail investors to gain early access to token sales, starting with Monad, a Layer 1 blockchain set to go live later this month.
Last month, the USDC issuer acquired Echo, a blockchain-based fundraising platform, which gives Coinbase another channel to support crypto startups through direct on-chain capital tools alongside its venture capital arm, Coinbase Ventures.
Coinbase has also backed out of a major deal this week. According to past reports, Coinbase was in late-stage talks with stablecoin startup BVNK in an acquisition that could have been worth up to $2 billion.
However, on Nov. 11, a Fortune report claimed that both companies have agreed to walk away from the deal but have not specified the exact reasons behind the decision.
The post Coinbase launches all-in-one crypto payment platform for businesses in Singapore appeared first on Invezz
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Coinbase Partners With Standard Chartered to Power Crypto in Singapore
Coinbase Business Launches in Singapore as First International Market
Coinbase launches all-in-one crypto payment platform for businesses in Singapore
Share:
Coinbase has launched its all-in-one financial platform, Coinbase Business, in Singapore to support startups and small businesses with faster payments and digital asset management.
According to a November 12 announcement from the company, the launch represents Coinbase Business’s first international expansion outside the United States.
“Singapore has always been a beacon of digital innovation and a crucial financial gateway to Asia.
Now, the nation’s dynamic ecosystem of startups and Small-to-Medium Businesses (SMBs) can access a modern, compliant, crypto-native operating account designed to eliminate the friction of traditional finance,” Coinbase said in the announcement.
What is Coinbase Business?
Coinbase Business is an all-in-one crypto operating platform that was first announced in June this year.
The platform offers instant payments, portfolio management, and accounting integration by leveraging stablecoins like USDC and XSGD to enable faster and cheaper transactions without chargebacks.
With the Singapore launch, local businesses will be able to trade and manage crypto assets directly from their operating accounts and also access global payouts through integrated APIs for vendor and payroll automation.
Further, onboarding the platform is free with approvals in as little as two days, and it also offers reconciliation support via leading platforms like QuickBooks and Xero.
For its Singapore launch, Coinbase has partnered with Standard Chartered. The bank will handle real-time Singapore dollar transfers for both retail and business customers.
Coinbase views Singapore as a “global leader in digital innovation,” which is why the city-state was chosen as the first market for its international rollout.
Beyond that, the exchange has also entrenched its presence in the country by participating in the BLOOM initiative led by the Monetary Authority of Singapore to advance programmable digital asset settlement under the “Agentic Payments” workstream.
“Singaporean companies ready to upgrade their financial stack and embrace the future of money can apply for early access to Coinbase Business today,” Coinbase added in its latest announcement.
Coinbase expands its operations
It has been a busy few weeks for Coinbase, marked by major strategic acquisitions and new product launches.
Earlier this week, Coinbase launched a new platform for retail investors to gain early access to token sales, starting with Monad, a Layer 1 blockchain set to go live later this month.
Last month, the USDC issuer acquired Echo, a blockchain-based fundraising platform, which gives Coinbase another channel to support crypto startups through direct on-chain capital tools alongside its venture capital arm, Coinbase Ventures.
Coinbase has also backed out of a major deal this week. According to past reports, Coinbase was in late-stage talks with stablecoin startup BVNK in an acquisition that could have been worth up to $2 billion.
However, on Nov. 11, a Fortune report claimed that both companies have agreed to walk away from the deal but have not specified the exact reasons behind the decision.
The post Coinbase launches all-in-one crypto payment platform for businesses in Singapore appeared first on Invezz
In This News
Coins
$ 0.99978
0%$ 0.768
+0.06%$ 0.99957
0%$ 1.0026
-0.09%Share:
In This News
Coins
$ 0.99978
0%$ 0.768
+0.06%$ 0.99957
0%$ 1.0026
-0.09%Share:
Read More
Coinbase Partners With Standard Chartered to Power Crypto in Singapore