Coinbase Offers Zero-Fee USDC Trading in Singapore – Adoption Booms!
• Coinbase has begun offering zero-fee USDC trading for users in Singapore.
• The exchange partnered with YouGov to study responses from 2,000 adult participants and found that almost a third of them reported owning or having owned crypto in the past.
• Coinbase also added that crypto volatility was a major impediment to new entrants and hence decided to simplify access to a stable asset like USDC.
Coinbase Introduces Feeless USDC Trading for Singapore Users
Crypto exchange giant Coinbase has announced the launch of zero-fee U.S. Dollar Coin (USDC) trading for customers in Singapore. The initiative follows a survey conducted by Coinbase, in partnership with YouGov, which showed an increasing level of cryptocurrency adoption among Singapore’s adult population.
The survey, which drew responses from 2,000 adults, revealed that almost one-third of the respondents had either owned or currently own cryptocurrency assets. Additionally, younger adults (under 30 years old) were more likely to make large value trades. Furthermore, the study showed that 25% of surveyed Singaporeans consider cryptocurrency as the future of finance—a percentage on par with those reported in the U.S., but higher than those reported from the United Kingdom (17%).
Volatility as a Barrier
According to Coinbase’s statement, one significant barrier preventing people from entering the crypto market is volatility – hence their decision to introduce free USDC trading and reward customers who hold USDC coins in their accounts.
Crypto Adoption Increasing Globally
This move demonstrates an increasing trend towards cryptocurrency adoption worldwide and highlights how blockchain technology is being used by governments and organizations alike for financial inclusion initiatives as well as banking services like remittances and payments processing .
Coinbase’s introduction of fee-free USDC trading is another example of how digital currency use is becoming increasingly popular around the world and could potentially revolutionize global finance systems if adopted on a larger scale.