Coinbase, a cryptocurrency exchange platform, has teamed up with Standard Chartered, a multinational banking and financial services company, to offer Singapore-based users a new trading experience. The partnership aims to provide a safe, seamless, and convenient way for users to trade using local banks.
The Singpass 2-Click Sign-Up System
Coinbase has introduced a new system called Singpass, which enables users to sign up with just two clicks. Singpass is a digital identity verification service that is used by the Singapore government for online transactions. It provides a secure and efficient way for users to sign up for new services without having to fill out lengthy forms or provide personal information repeatedly.
Seamless Trading Experience for Singapore Users
With the new partnership, Coinbase users in Singapore will be able to trade with the local banks more easily and securely. The Singpass system will make it much easier for users to sign up and verify their identity, which should speed up the onboarding process significantly. Additionally, users will be able to make deposits and withdrawals using local banks, providing a more convenient trading experience.
The Benefits of the Coinbase and Standard Chartered Partnership
The partnership between Coinbase and Standard Chartered offers a number of benefits for users in Singapore. Firstly, it provides a more convenient trading experience, with the ability to use local banks for deposits and withdrawals. Secondly, the Singpass system makes it easier and quicker for users to sign up and verify their identity, reducing the friction of the onboarding process. Thirdly, the partnership provides a more secure trading experience, with the backing of a reputable financial institution like Standard Chartered.
Coinbase and Standard Chartered’s partnership in Singapore is a significant step towards creating a safer, more convenient, and more efficient trading experience for cryptocurrency users. The introduction of the Singpass 2-click sign-up system makes it easier for users to sign up and verify their identity, while the ability to trade using local banks adds an extra layer of convenience. Overall, this partnership is a positive development for the cryptocurrency industry in Singapore.