Coinbase Expands Its Service Offering for Customers in Singapore

The cryptocurrency exchange Coinbase will waive commissions on purchases USDC with SGD for customers in Singapore, and will list 200 trading pairs with this stablecoin and offer a staking service for cryptocurrencies.

Under the latest offering, Ethereum, Solana, Cardano, Cosmos and Tezos will be available.

The move comes as part of efforts to accelerate international expansion amid difficulties with the SEC.

In March 2023, the Commission sent the exchange a notice of an investigation into the listing procedures on the platform and its products — Coinbase Prime, Coinbase Wallet and the staking service Coinbase Earn.

In April, the company responded to the SEC’s allegations, stating its readiness to vigorously defend itself. Representatives noted that the regulator could suffer reputational damage as a result of the investigations.

In the same month, the company filed a lawsuit to obtain a response from the SEC to the petition filed in July 2022. In it, the platform sought clarity on crypto-industry regulation.

In May, Coinbase announced the launch of an international futures exchange for digital assets — Coinbase International Exchange.

Later, the platform’s leadership named the UAE a potential strategic hub.

“The world is moving forward with the United States or without it. As a global company, we are committed to international expansion,” — said The Block director Coinbase Singapore Hassan Ahmed.

The company obtained a license from Singapore’s regulator in October 2022.