Coinbase Business, the United States-based crypto operating platform, is launching in Singapore – its first international market.

The firm said in a statement on Wednesday that Singapore has always been a beacon of digital innovation and a crucial financial gateway to Asia.

With the launch, the nation’s dynamic ecosystem of startups and small and medium-sized businesses (SMB) can access a modern, compliant, crypto-native operating account designed to eliminate the friction of traditional finance.

“In a world that moves at the speed of the internet, traditional finance is simply too slow and too expensive. That’s the problem Coinbase Business is built to solve,

“By leveraging the speed and stability of digital dollars like USDC, we offer businesses a platform that enables seamless and secure trading, with instant settlement, minimal fees, and zero chargebacks,” said the firm.

Coinbase highlighted that the future of business to business (B2B) payments is built on a faster, cheaper, and more programmable foundation – and that foundation is crypto.

“We’ve engineered a powerful yet simple technical stack that unifies payment rails, asset management, and financial reporting into a single platform,

“Singaporean businesses can securely buy, sell, and exchange crypto assets directly from their operating account. For Singapore’s digitally-native companies, Coinbase Business is the command center that ensures their money moves as fast as their ambition,” it noted.

According to the statement, Singapore has firmly established itself as a global leader in digital innovation and a crucial hub for the future of finance in Asia.

Thus, bringing Coinbase Business to the country is a testament to its commitment to supporting the region’s dynamic and rapidly scaling business community.

Coinbase Business Singapore will be powered in cooperation with Standard Chartered, with whom Coinbase have a strategic banking relationship in Singapore that facilitates seamless real-time fiat (Singapore dollar) transfers for Coinbase’s retail and now business customers.

This launch is the latest in a series of deep commitments the firm has made to the region.

Just last month, the firm announced its participation in the MAS BLOOM Initiative (Borderless, Liquid, Open, Online, Multi-currency).

This collaboration with the Monetary Authority of Singapore (MAS) demonstrates how they are actively working to build the regulated, compliant infrastructure that underpins the next era of finance, said the firm.

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