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 USD commission-free transactions, customers can more easily access USDC – designed to be linked and redeemed 1:1, in USD. Customers can also be rewarded up to 5.05% APY on their USDC just by holding it, with no lock or cap.
Earlier this year, Coinbase integrated with Singpass, Singapore’s trusted digital identity, offering customers a more streamlined onboarding process. Coinbase has also introduced convenient funding options such as PayNow and FAST bank transfers, and received the Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS) in October 2023.
Coinbase Ventures has invested in more than fifteen Singapore-based web3 startups over the past three years and has built a team in the island city to drive investment activity in the Asia-Pacific region.