Coinbase Launches First International Business Platform in Singapore With Standard Chartered

Core Insights - Coinbase has launched its business platform in Singapore, marking its first expansion outside the U.S. [1] - The platform is designed for startups and small-to-medium-sized enterprises, offering a suite of APIs and automation tools for crypto payments [2][3] - Singapore is a strategic market for Coinbase, serving as a primary outpost in Asia amidst competition from established players like Binance [4][5] Company Expansion - Coinbase's entry into Singapore follows a partnership with Standard Chartered, enabling SGD deposits and withdrawals [5] - The company aims to deepen its presence in Singapore, which is viewed as a critical financial hub and access point to the rest of Asia [6] - After previously suspending operations in Japan, Coinbase has recently relaunched in India and invested in the local exchange CoinDCX [6][7] Competitive Landscape - Despite Coinbase's efforts, it faces significant competition in Asia, particularly from Binance, which attracted approximately twice the website traffic compared to Coinbase in the three months leading to October 31 [4] - The launch of Coinbase Business in Singapore is a strategic move to enhance its global footprint and compete more effectively in the region [5]