Coinbase has launched its business-focused platform in Singapore, marking the service’s first rollout outside the United States. Known as Coinbase Business, the platform offers startups and small to medium-sized companies tools for handling digital asset payments and financial operations using USDC.
The announcement was made Wednesday. Coinbase described the platform as an all-in-one solution for crypto payments, asset management, and financial automation. It is aimed at businesses seeking to simplify the use of digital currencies in everyday operations.
Tools Built Around USDC
Coinbase Business supports sending and receiving payments in USDC. It also includes features for managing assets, creating payment links, and automating routine transactions. One of the service’s key features is the ability to settle payments instantly, with no chargebacks and a flat 1% transaction fee.
In a company statement, Coinbase said:
“By leveraging the speed and stability of digital dollars like USDC, we offer businesses a platform that enables seamless and secure trading, with instant settlement, minimal fees, and zero chargebacks.”
The platform also allows users to earn rewards on USDC holdings. Its goal is to give businesses access to crypto finance tools through a unified interface without requiring deep technical knowledge.
Support from Standard Chartered
Coinbase is working with Standard Chartered in Singapore to support local currency transfers. This partnership enables both retail and business customers to move funds in and out of Singapore dollars directly from the platform.
The expansion builds on Coinbase’s existing relationship with Singapore’s financial regulator, the Monetary Authority of Singapore (MAS). In 2023, Coinbase received a Major Payment Institution license from MAS. This license allows the company to offer digital payment services to individuals and institutions operating in the country.
Coinbase commented,
“This collaboration with the MAS demonstrates how we are actively working to build the regulated, compliant infrastructure that underpins the next era of finance.”
Policy Engagement on Stablecoins
Coinbase has also submitted its views to the U.S. Treasury regarding stablecoin rules under the proposed GENIUS Act. The company said that interest restrictions should apply only to issuers, not platforms that support trading.
In its letter, Coinbase stated,
“The law was never meant to ban interest across the entire ecosystem.”
The company continues to support regulatory frameworks that allow for the use of stablecoins in both domestic and international markets.
Coinbase also recently joined the MAS BLOOM initiative, which explores how tokenized bank money and regulated stablecoins could be used in settlement systems.
