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

Core Insights - Coinbase has officially launched its first international platform, Coinbase Business, in Singapore, marking a significant expansion beyond the United States [1][4][9] - The launch is part of a collaboration with the Monetary Authority of Singapore (MAS) under the BLOOM Initiative, aimed at promoting compliant digital payments [4][9] Features and Offerings - The platform provides Singaporean startups and small-to-medium businesses (SMBs) with instant USDC payments, global payouts, integrated trading tools, and automated accounting [3][5] - Key features include USDC-based global payments, an API for automated payroll and vendor management, and a 1% transaction fee for cross-border payments, significantly lower than traditional credit card processing costs [5] - Businesses can earn yield on USDC balances and reconcile their accounts through integrations with QuickBooks and Xero [5] Strategic Partnerships and Market Position - The launch is supported by a partnership with Standard Chartered Bank, facilitating seamless real-time SGD transfers for both retail and business users [6] - This banking link ensures compliance with Singapore's regulatory standards for fiat-crypto integration [6] - Coinbase emphasizes its commitment to supporting the innovation economy in the region by providing faster, cheaper, and programmable financial tools [7] Industry Context - The launch occurs amid increasing institutional adoption of stablecoins like USDC and growing regulatory clarity across Asia [7] - Coinbase's involvement in MAS's Agentic Payments workstream indicates a deeper commitment to shaping compliant digital asset infrastructure in the region [8]