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3w ago

Coinbase Expands Global Fiat Rails With Standard Chartered

The deal adds AUD, SGD, CAD and CHF funding plus GSIB‑backed EUR and GBP settlement, reducing FX conversion costs to speed institutional funding.

Coinbase
Coinbase, standard chartered partner to add 6 currency access

Overview

  • A deal announced Wednesday between Coinbase and Standard Chartered introduces funding rails for the Australian dollar, Singapore dollar, Canadian dollar and Swiss franc and adds Global Systemically Important Bank‑backed settlement for the euro and British pound.
  • The new rails run on Coinbase Prime and Coinbase Exchange but Prime Trading clients based in the European Union will not have access at this stage.
  • Coinbase relaunched Direct Deposit for U.S. customers on May 26, allowing workers to send part of their paychecks into cash, USDC or other crypto with zero trading fees for those allocations.
  • Markets reacted briefly to the announcements as COIN shares closed at $180.01, down about 2.7%, and traded lower in pre‑market hours according to market reports.
  • The move aims to cut FX friction and speed funding and settlement for multi‑jurisdictional trading desks by tying bank rails and GSIB settlement to onchain tools and stablecoins, a trend the company cites with stablecoin settlement volumes used as a faster alternative to legacy payment rails.