Coinbase is expanding to Singapore after the US SEC denied crypto exchange’s application to list its cryptocurrency exchange-traded funds (ETFs).
Coinbase said that Singapore was an attractive market for expansion because of its “strong regulatory framework” and “deep talent pool.” The company also said that it was confident that the Singapore market would be receptive to its products and services.
The SEC’s decision to deny Coinbase’s ETF application was a major setback for the company. The ETF would have allowed investors to buy and sell crypto exposure through a traditional investment vehicle. The SEC’s decision was seen by many as a sign that the regulator was still not comfortable with the crypto industry.
Despite the SEC’s decision, Coinbase is still moving forward with its expansion plans. The company said that it would be launching its crypto exchange in Singapore in the coming months. Coinbase is also planning to open an office in Singapore and hire local talent.
Coinbase’s expansion to Singapore is seen as a sign of confidence in the crypto industry. The company is one of the most well-known and respected crypto exchanges in the world. Its decision to expand to Singapore is a vote of confidence in the country’s regulatory framework and its talent pool.
