TDR Capital International - Coinbase's stock rises after receiving vital legal authorization in SG

KOWLOON, Hong Kong - Oct. 12, 2023 - PRLog -- Coinbase stated that the move would let it to grow its Digital Payment Token services to both consumers and institutions in Singapore, adding that since its initial participation, it has recognized Singapore as a "vital market for Coinbase."

According to Coinbase, 25% of Singaporeans polled regarded cryptocurrencies as the future of finance, and 32% were current or previous owners of digital currency. It went on to say that the country has "naturally become a significant location for this industry."

The business also stated that Singapore has over 700 Web3 enterprises, making it "a pivotal market for the growth of the crypto and Web3 economy."

Coinbase noted that it has made it a point to collaborate with regulators in important countries to accelerate its international expansion, and that it has gained Virtual Asset Service Provider (VASP) licences from Spain, Italy, Ireland, and the Netherlands in the last year.

Coinbase shares were 0.6% higher in early trade on Monday at noon ET, having given up some of their earlier gains. This year, their worth has more than doubled.

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