Coinbase Business Launches in Singapore: Introducing USDC Payments and Crypto Tools for Startups

Coinbase has officially expanded its operations outside the United States with the launch of Coinbase Business in Singapore, marking its first international introduction of the crypto operating platform.

Key Takeaways:

Coinbase has launched its first international service, Coinbase Business, specifically in Singapore.
This platform provides startups and small-to-medium businesses (SMBs) with access to instant USDC payments, global transfers, and integrated crypto management tools.
The launch is part of Coinbase’s partnership with the Monetary Authority of Singapore (MAS) under the BLOOM Initiative, designed to facilitate borderless and compliant digital payment systems.

Through this new offering, businesses in Singapore can utilize seamless USDC payments, global transactions, crypto trading tools, and automated financial accounting.

Coinbase Business Launches in Singapore, Bringing USDC Payments, Crypto Tools to Startups

Coinbase's International Expansion: Launching in Singapore

Singapore, recognized as a significant fintech center and one of the most progressive economies in Asia regarding cryptocurrency, is the first international location for Coinbase Business.

This launch follows Coinbase’s collaboration with Singapore’s Monetary Authority (MAS) in support of the BLOOM Initiative, which is focused on enhancing cross-border and compliant digital payment solutions.

The new platform offers a comprehensive financial operating system for businesses wishing to integrate cryptocurrency into their everyday practices.

Key features of Coinbase Business include USDC-based global transactions, an API for automated payroll and vendor management, and competitive transaction fees of just 1% for international payments—significantly lower than traditional credit card processing fees.

Additionally, businesses can generate yield from their USDC balances and can smoothly integrate their financial records with QuickBooks and Xero.

Coinbase Business empowers companies to securely buy, sell, and manage digital assets right from their operational accounts. This initiative aims to provide the burgeoning startup ecosystem in Singapore with a centralized platform for financial transactions that keep pace with their ambitions.

The launch is also supported by a collaboration with Standard Chartered Bank, facilitating instant Singapore Dollar (SGD) transfers for both consumers and business entities. This banking relationship ensures a smooth integration of fiat and cryptocurrency under Singapore's stringent regulatory framework.

“We are dedicated to fostering innovation in the region,” Coinbase stated in its announcement. “Our goal is to equip Singaporean businesses with faster, more cost-effective, and programmable financial solutions for a new era of global trade.”

Coinbase's Singapore initiative arrives at a time when there is an increasing institutional interest in stablecoins like USDC, alongside a clearer regulatory landscape across Asia.

The firm’s engagement with MAS’s Agentic Payments workstream showcases its commitment to enhancing compliant digital asset infrastructure in the region.

Singaporean businesses can now gain early access to this innovative platform.

Coinbase's Stand on Stablecoins and the US Banking System

In a recent statement, Coinbase dismissed concerns suggesting that stablecoins could deplete deposits from U.S. banks. Instead, the company asserted that these digital currencies support the global prominence of the dollar.

Shirzad noted that the primary demand for stablecoins comes from international customers looking for dollar-denominated assets, rather than domestic savers in the U.S.

According to Coinbase, approximately two-thirds of stablecoin operations occur in decentralized finance (DeFi) settings, which operate independently from traditional banking, comparing current apprehensions to fears observed during previous financial innovations like money market funds.

In the meantime, the Bank of England (BOE) is preparing to announce its long-awaited regulatory framework for stablecoins, aiming to align itself with the advances in U.S. digital asset oversight.

Deputy Governor Sarah Breeden refuted claims that the UK is lagging behind the U.S., indicating to Bloomberg that the new regulatory regime would be implemented “just as quickly as in the US.”

The BOE will release its official consultation on stablecoin regulation on November 10.