Coinbase, a major US-based cryptocurrency exchange, has expanded its services in Singapore by offering USD transfers through the SWIFT network. This allows users in Singapore to easily transfer US dollars to and from their Coinbase accounts, giving them access to the stablecoin USDC and the wider crypto market. The introduction of USD transfers is part of Coinbase's mission to increase global economic freedom and provide users with better tools for navigating digital assets. Singapore is a key market for Coinbase's international expansion, and the company has implemented various initiatives to cater to Singaporean customers, including commission-free trading of USDC with SGD and attractive incentives for USDC holders. Coinbase has obtained a Major Payment Institution license from the Monetary Authority of Singapore and has made strategic investments in web3 startups based in Singapore. The establishment of a dedicated team in Singapore demonstrates Coinbase's commitment to driving investment activities in the Asia-Pacific region.
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