Coinbase Partnered with Standard Chartered Singapore for $SGD on/off Ramp for Free

Coinbase Partnered with Standard Chartered Singapore for $SGD on/off Ramp for Free

Reported Bloomberg, Coinbase announced a new partnership with Standard Chartered in Singapore. The agreement will allow Coinbase users to transfer Singapore dollars to and from the platform via any local bank in the country for free.

This collaboration comes at a crucial time for cryptocurrency firms, with many scrambling to establish new banking partnerships as banking options for digital token service providers dwindle. In the US, the recent turmoil in the financial sector has caused the collapse of three banks in the past week, including Silvergate Capital Corp, Silicon Valley Bank, and Signature Bank. The loss of Silvergate and Signature is particularly severe for digital assets as they facilitated the flow of money to and from the sector through real-time, seven-days-a-week payment networks.

Coinbase's partnership with Standard Chartered will provide users with an option to move funds between any lender and the cryptocurrency exchange. The tie-up will allow users to make and receive real-time payments, as well as enabling the exchange to automatically reconcile user accounts.

The collaboration between Coinbase and Standard Chartered will also provide the exchange with an opportunity to secure a final license in Singapore. Coinbase received in-principle approval from the Monetary Authority of Singapore last year and is currently working on meeting additional conditions required to obtain a final license in the city-state.

 

TokenInsight is dedicated to covering the most important and cutting-edge trends in the world of crypto. If you have information to share with us, please feel free to contact our email news@tokeninsight.com. Your trust will be well respected.

Source

Coinbase

Exchanges

In This Article

Related News
COIN jumps 8% on news Coinbase will become the first pure-play crypto firm to join S&P 500 index COIN jumps 8% on news Coinbase will become the first pure-play crypto firm to join S&P 500 index
Bitget will legally pursue 8 accounts suspected of profiting $20 million from VOXEL trading manipulation Bitget will legally pursue 8 accounts suspected of profiting $20 million from VOXEL trading manipulation
Non-KYC exchange eXch to close down under money laundering scrutiny tied to Lazarus Group Non-KYC exchange eXch to close down under money laundering scrutiny tied to Lazarus Group
MEXC Extends DEX+ Platform to Binance Smart Chain Users MEXC Extends DEX+ Platform to Binance Smart Chain Users
MEXC Partners With Hacken to Increase Security Standards MEXC Partners With Hacken to Increase Security Standards
Latest News More More
1 Day Ago Crypto industry cheers progress in 'historic' stablecoin legislation as Senate advances GENIUS Act
2 Days Ago Vitalik Buterin suggests implementing ‘partially stateless nodes’ to help scale Ethereum
6 Days Ago Synthetix proposes $27 million token swap to acquire options protocol Derive
May 14 FalconX partners with Standard Chartered to boost crypto offerings for institutional clients
May 12 Lido 'secure' after oracle compromise sparks emergency DAO vote
delate
Use TokenInsight App All Crypto Insights Are In Your Hands
Open