Coinbase Launches Zero-Fee USDC Trading in Singapore
Coinbase Adds Fee-free USDC Trading in Singapore
• Coinbase has begun offering zero-fee USDC trading for its Singapore customers.
• The move follows a survey showing increasing crypto adoption, especially among young adults.
• Coinbase will reward customers who hold USDC in their Coinbase accounts.
Survey Reveals Positive Crypto Adoption in Singapore
Coinbase partnered with YouGov to survey 2,000 adult participants and the results revealed a positive outlook for crypto adoption in Singapore. Almost one-third of the participants reported owning or having owned cryptocurrency in the past, indicating significant adoption among younger demographics. Additionally, 25% of those surveyed consider crypto as the future of finance, higher than the 17% reported in the UK. Despite this positive indicator, volatility was cited as an obstacle to new entrants into the market – prompting Coinbase’s decision to simplify access to more stable assets like USDC.
Zero-Fee USDC Trading Launched by Coinbase
In response to these findings, Coinbase announced it would offer zero-fee USDC trading for its customers in Singapore using local currency deposits. The initiative expands on existing zero-fee fiat deposits already available to users from within the country. In addition to this free trading offer, Coinbase further incentivized users by rewarding them if they held stablecoins like USDC in their accounts.
Encouraging Women and Young Adults on Crypto Adoption
The survey also highlighted an encouraging trend towards increased crypto adoption among women and young adults – which is consistent with reports from previous studies conducted by Coinbase and other industry players. With a view towards facilitating greater accessibility for all types of users, Coinbase has made several moves such as launching educational content related to cryptocurrency investing and providing support services for individuals looking for guidance when entering markets outside their home countries.
Rising Crypto Adoption Signals Promising Future
The rising rate of crypto adoption observed throughout Singapore indicates an optimism that cryptocurrency will play an important role in shaping our financial future – something that is mirrored across many countries around the world today. As we continue to see companies like Coinbase take steps to make digital assets more accessible and secure through initiatives such as feeless trading and custody services – we can expect increased demand for cryptocurrencies moving forward