Why does Coinbase need Singpass?

Coinbase, a major cryptocurrency exchange, has been expanding its services in Singapore. To facilitate this expansion and cater to the local market, Coinbase integrated Singpass, Singapore's digital identity system. This integration simplifies the onboarding process for new users, making it easier for them to access and trade cryptocurrencies on the platform. Additionally, it enhances the security and compliance of the exchange's operations in Singapore, aligning with the country's regulatory requirements.