This also signifies a crucial recognition by Coinbase of the importance of cultivating a future-proof workforce. 56% of finance-forward Singaporeans believe that crypto is the future of finance. Upskilling engineering talent to meet the needs of emerging technology use cases will ensure Singapore remains a competitive centre for financial services and technology.
In October 2023, Coinbase obtained a Major Payment Institution (MPI) license from the Monetary Authority of Singapore. This marked a key milestone in its efforts to expand its presence in the city-state and continue building its operations. With this license, Coinbase is well-positioned to offer a broad range of secure cryptocurrency trading and custodial services to retail, accredited investor and institutional clients in Singapore.
This announcement marks another effort by Coinbase to expand across the APAC region. In July Coinbase announced that it had been selected by DigitalX, an ASX-listed company, to deliver custody and advanced trading execution services for the recently approved DigitalX Bitcoin ETF (BTXX) through its platform, Coinbase Prime. In August Coinbase partnered with Shping, an Australian blockchain-based rewards platform, to promote adoption of blockchain and cryptocurrency technologies among consumers in Australia. Coinbase Ventures has also invested in 18 Singapore-based portfolio companies to support the local crypto ecosystem.
By continuing to expand its partnerships and investments throughout the region, Coinbase remains committed to advancing the global blockchain ecosystem and enabling greater access to cryptocurrencies in APAC markets.
