The timing to clinch a new banking partner is noteworthy as several crypto firms, asset managers and hedge funds are struggling to replace such links in the US after the turmoil in the financial sector there in the past week.
Coinbase Global Inc. has joined with Standard Chartered in Singapore to provide its users an option to move funds between any lender and the cryptocurrency exchange at a time when banking options for digital token service providers are dwindling.
Under the arrangement, Coinbase users can transfer Singapore dollars to and from the platform via any local bank in the country for free, Coinbase said in a statement Wednesday. Standard Chartered will offer that connection to on- and off-ramp their money, Hassan Ahmed, country director for Coinbase Singapore, said in an interview.
