Coinbase Shakes Up Stablecoin Market: AUD and SGD Tokens Launch September 29

Digital currency giant Coinbase just dropped a bombshell that'll reshape Asia-Pacific crypto markets.

Breaking Traditional Borders

The exchange confirmed it's listing the first-ever Australian dollar and Singapore dollar denominated stablecoins on September 29—bypassing the USD hegemony that's dominated crypto trading since its inception. This isn't just another listing; it's a direct challenge to the global financial status quo.

Local Currency Revolution

Traders can now access native AUD and SGD pairs without conversion fees eating into their profits. The move cuts out multiple banking intermediaries that typically slow down cross-border transactions—because who enjoys waiting three business days for currency settlements anyway?

Market Impact

Expect liquidity to flood into APAC markets as institutional players gain direct exposure to local currency volatility. The timing's perfect—right when traditional finance institutions are still figuring out whether blockchain is a passing trend or the future of money.

One cynical finance jab: Because nothing says 'financial innovation' like recreating fiat currencies on blockchain—but this time with faster settlement and lower fees than the banks that have been overcharging for decades.

Coinbase Global Inc. (NASDAQ: COIN) has announced plans to list local stablecoins in Australia and Singapore. The top-tier cryptocurrency exchange, which is regulated by the respective local authorities, plans to list Novatti Australian Digital Dollar (AUDD) and XSGD (XSGD) on September 29, 2025. 

“Supporting local currency stablecoins is synonymous with our commitment to invest in our key international markets, like Australia and Singapore, by continuing to localise our product offerings. Users in Australia and Singapore respectively, will now be able to convert from AUD to AUDD and SGD to XSGD for free,” Coinbase noted. 

Why is Coinbase Listing Local Stablecoins in Singapore and Australia?

Coinbase has noted an increased interest in local stablecoins in Singapore and Australia. The cryptocurrency exchange recently conducted a survey through Ipsos and found out that more than 70% of crypto owners in Singapore and Australia are interested in tapping into local stablecoins.

As such, Coinbase is keen to use local stablecoins as a tool to help in its mission of onboarding 1 billion people to crypto. Moreover, more businesses are likely to participate in on-chain activities through familiar currencies, which have less friction.

Notably, the AUDD is used by AUDC Pty and it is redeemable at 1:1 for the Australian dollar. The XSGD is issued by StraitsX and regulated by the Monetary Authority of Singapore (MAS) via the Single Currency Stablecoin (SCS) regulatory framework.

Bigger Picture

The stablecoin market is at the heart of the mainstream adoption of crypto assets. Following the enactment of the GENIUS Act in the United States, the stablecoin market has grown rapidly to reach $300 billion at press time.

The mainstream adoption of stablecoins has also accelerated in the recent past due to the rising interest from traditional financial institutions.