Coinbase, the popular cryptocurrency exchange, has announced a strategic banking partnership with Standard Chartered in Singapore, according to the latest blog post from the company.
In addition to enhancing its retail platform, Singpass, the company now enables customers in Singapore to make transactions to and from their Coinbase accounts for free, utilizing any local bank.
The exchange users now have the convenience and flexibility of depositing and withdrawing funds via bank transfers, allowing them greater control over their assets.
As Coinbase gears up for its international expansion, it is pleased to launch its services in Singapore, aiming to provide a seamless and secure experience for customers trading digital assets.
With Singapore becoming a significant player in blockchain and cryptocurrency, Coinbase is committed to delivering exceptional product experiences to the Singaporean market.
Singpass Enables Free Transactions With Coinbase
To enhance user convenience, Coinbase has integrated Singpass, a well-established and trusted platform used by Singaporeans in various applications. Singpass offers a hassle-free and secure “2-click” experience, simplifying the sign-up process for users.
Furthermore, the recently improved Help Centre, which is manned by a group of professionals, is accessible to assist users with any queries they may have and provide support through a variety of resources, including live chat.
The blog post states the company had expanded its offering to over 200 assets, including popular cryptocurrencies such as Bitcoin and Ethereum.
However, to help customers navigate the complexities of investing in the crypto economy, the company has launched Coinbase Learning.
This resource library offers a range of educational materials, from beginner guides to advanced trading strategies, aimed at deepening customers’ understanding of the crypto-economy and how to participate in it safely.
By providing access to quality education, the company aims to empower “customers to make informed decisions and achieve their financial goals in the crypto space.”
The company’s blog post also revealed that it had obtained In-Principle Approval (IPA) from the Monetary Authority of Singapore (MAS) for its Digital Payment Token (DPT) services under the Payment Services Act (PSA).
Nevertheless, Coinbase’s expansion plans received a boost through its strategic partnership with Standard Chartered and the launch of an upgraded retail platform in Singapore.
This highlights Singapore’s growing significance as a blockchain and crypto hub, and Coinbase’s emphasis on compliance, customer support, and education positions it as a key player in the Singaporean market.
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