Why did Coinbase get a license in Singapore?

Could you elaborate on the reasons behind Coinbase's decision to obtain a license in Singapore? Given the country's robust financial regulatory framework and its growing reputation as a hub for blockchain technology and digital assets, was this a strategic move to expand their global reach and increase trust among users? How does this license benefit Coinbase in terms of serving customers in the Asian region and beyond? Additionally, what specific regulatory requirements did Coinbase need to meet in order to secure this license, and what impact will it have on their operations in the long run?