Coinbase Gets Necessary Regulatory Approval To Start Operating In Singapore

Coinbase has been making some very impressive moves in the crypto space, as it is really starting to expand outside the realm of most types of crypto exchanges. It is currently focusing on bringing as many people as possible into the crypto market, along with increasing the accessibility of cryptocurrencies.

And in order to bring in as many people as it can, Coinbase is currently making its way into Singapore, for which it needed a very important regulatory license. As it generally makes a larger effort to expand overseas, Coinbase will have to play by the Country’s specific rules.

But fortunately for Coinbase, they have managed to get the regulatory approval that they need to start offering their services in Singapore as well. And with its new partnership with Google going into full swing, the company’s global scope means that it is more than capable of getting the most of its services.

Still Plenty of Pressure on the Crypto Market

Although Coinbase has managed to get approval for its regulatory license, it all still happened when the entire market is still under a lot of pressure. Having lost over $2 billion in a matter of months, all major cryptocurrencies have lost both their market cap and their overall price significantly.

And if a drop of nearly $2 trillion was not enough, in a span of just a year, two major cryptocurrency projects managed to crash wiping away billions from the market. Therefore, it is obvious to see that the cryptocurrency market is not at its strongest right now, but that has not stifled popularity.

In fact, despite how poorly the market as a whole is doing, Coinbase has managed to set out on a new partnership with Google and is currently expanding to a new country.

Steady Investments in Singapore

While Coinbase had just recently applied for a regulatory license in Singapore, new reports have come out that the company has been making steady investments in the country. One of the major reasons why it has such high hopes for Singapore is because the country remains one of the largest tech hubs in the world.

Therefore, Coinbase is looking to make a name for itself in the Asian market, which is why it is looking to make Singapore its major tech hub.

Launching All of Their Products

By moving into Singapore, Coinbase will be able to really make all of its other products available. As a whole, the company can now ensure that there is a brand new market that will not be more open to the idea of trying its suite of products. And as they continue to expand, they can even rely on these customers to keep supporting them.