Crypto Exchange Coinbase Easible Fund Transfer Services For Singaporeans With Singpass

The leading US crypto exchange, Coinbase. (Photo; Doc. AltcoinBuzz)

JAKARTA - The world's largest crypto exchange, Coinbase, recently provided good news for its customers in Singapore. They can now easily move funds from and to accounts through local banks, facilitate the investment process in virtual assets, and facilitate crypto purchases.

Previously, customers in Singapore could only buy crypto via Visa or Mastercard debit or credit cards, or send cryptocurrencies in and out of their Coinbase accounts. This is a breath of fresh air for the crypto market, especially in maintaining financial stability and crypto banking.

Coinbase plans "Go Broad, Go Deep", a new international strategy that includes six continents, South America, Europe, Africa / Middle East, Asia, Australia, and North America.

For eight weeks, they will launch several new initiatives such as new products and services, customized projects, special partnerships with the financial sector, and interacting with local governments and regulators. This will help Coinbase to expand its reach and reach more people around the world.

Coinbase has also integrated Singpass, a safe "2-click" experience commonly used by users in Singapore across their apps. This makes it easier for customers to sign up for Coinbase.

In addition, Coinbase is increasing the Aid Center to help customers who have questions and concerns about digital token trading. A team of experts is also present to answer questions and offer support through various tools including live chats.

As the most popular crypto exchange, Coinbase offers more than 200 assets including Bitcoin and Ethereum. The company has also introduced a resource catalog called Coinbase Learning, which will help educate clients about the crypto economy and also offer tips for easy market navigation.

In addition, Coinbase has received a Principle Approval (IPA) from the Monetary Authority of Singapore (MAS) under the Payment Service Act (PSA) to offer regulated Digital Payment Token (DPT) services.

Although Singapore has always warmly welcomed crypto companies, regulators are still not convinced of the involvement of virtual market retailers. In October, MAS proposed a regulation that would prohibit trading companies from offering incentives or financing to retail customers.

Coinbase's announcement puts confidence in a rather weak and unstable crypto space following the collapse of the crypto exchange FTX. The crypto-oriented bank, Silvergate Capital, is the most recent crash as it announced its plans to close operations in March.