USD transfers now available to Coinbase users in Singapore
USD transfers are now available for Coinbase users in Singapore.
Singapore customers already enjoy commission-free trading today when buying or selling USDC with Singapore dollars (SGD). Now, with the introduction of commission-free trading for US dollars, customers can more easily access USDC – designed to be pegged, and redeemable 1:1, to the US dollar. Customers can also be rewarded up to 5.05% APY on their USDC simply by holding, with no lockups or maximum limit.
Earlier this year, Coinbase integrated with Singpass, the trusted digital identity of Singapore, offering customers a more streamlined onboarding process. Coinbase has also introduced convenient funding options such as PayNow and FAST bank transfers, and obtained its Major Payment Institution (MPI) licence from the Monetary Authority of Singapore (MAS) in October 2023.
Coinbase Ventures has invested in over fifteen Singapore-based web3 startups in the past three years and has established a team in the island city to drive investment activity in the Asia-Pacific region.