Coinbase Launches USD Transfer to Singapore Using SWIFT Network!

Coinbase recently launched USD transfers in Singapore using the SWIFT network as well as increased conversion between fiat and crypto. Coinbase recently announced that small investors or traders in Singapore will be able to transfer USD from their accounts using the SWIFT network. Coinbase has expanded into the Singapore market by introducing this facility. One of the reasons for introducing this feature is that Coinbase is a Nasdaq-listed cryptocurrency exchange. Such transactions will thereby help increase access to fiat and crypto linking. Customers will also be able to access their funds in USD as well as USDC and are designed to be pegged accordingly. Customers can also redeem USDC for equivalent amount in USD if desired.

Such opportunities were previously in place in the United States. Coinbase has also established a strong presence outside the US by introducing such facilities in Singapore at present. Here the exchange site has created an opportunity to peg coins like USDC against the dollar. One of the advantages of pegging such stablecoins is that it makes it easier to exchange them for currencies.

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Singapore is a very important country especially for international expansion Coinbase has chosen Singapore. The SEC rejected Coinbase's request for cryptocurrency rulemaking last Friday. The crypto exchange quickly filed an appeal against the SEC's decision after the SEC's rejection So such activity in Singapore will be a source of some relief for Coinbase. Moreover, an important point here is that Singapore's central bank is also actively developing a cryptocurrency framework. Singapore's central bank aims to curb speculation by creating an active cryptocurrency framework. And with that, the central bank wants to reduce the risk for its small investors in all these sectors.

This exchange we all know is going to expand to the world through Coinbase International Exchange. And they recently unveiled the next step in their global expansion with the launch of their facility in Singapore. Last week Coinbase discussed their goals or intentions to expand in Singapore or globally. The exchange site noted that, as Coinbase intends to expand its global presence through the International Exchange, they will provide a seamless, enhanced trading experience for spot markets perpetual futures traders. The exchange site will also provide its global users with greater access to a trusted non-US spot exchange. Through this and providing all these benefits, Coinbase will expand itself globally and for that reason they have chosen Singapore as the hub.