Bitcoin users in Singapore can now purchase and sell the digital currency via Coinbase.
The popular Bitcoin exchange, with around $106 million worth of funds in its pockets, has marked its entry into Southeast Asia. The announcement is quickly followed by its expansion to Canada a couple of days back.
CEO Brian Armstrong earlier admitted that Coinbase is looking forward to expand its business territory to around 30 countries. As he indicates, the company’s focus remains on cornering both developed and developing Bitcoin markets around the globe. Singapore marks their first venture outside the North American and European markets.
The decision further helps Coinbase in reaping benefits from the innovative regulatory climate of Singapore. The country has shown a remarkable stand when it comes to supporting the disruptive payment technologies. Many Bitcoin startups in the past have made Singapore their home, for it brings fair and lenient regulations for them.
What’s further exciting is the nation’s reputation as one of the world’s leading financial capitals. Particularly in Southeast Asia, Singapore is known for its transparent and efficient banking infrastructure. This makes it a great business haven for many of the emerging markets like Philippines, India, Thailand, Indonesia, and others.
“Singapore represents an important market