Singapore Grants Crypto License Exemptions to Ripple, Coinbase and Binance

While Singapore recently adopted specific cryptocurrency legislation — the Payment Services Act (PSA) — in January 2020, it turns out that some crypto firms like Ripple, Coinbase and Binance have been exempt from the law since the beginning of the year. The Monetary Authority of Singapore (MAS), the country’s central bank and major financial regulatory authority, exempted a number of major payment services from holding a financial license under the PSA. According to a statement released on March 24, the listed companies are allowed to continue to provide specific payment…

Coinbase Wallet Integrates Support for DeFi Lending Apps

Leading U.S.-based cryptocurrency exchange, Coinbase, has integrated support for decentralized finance (DeFi) protocols on its wallet app. Per a March 26 announcement, Coinbase Wallet will now allow users to earn interest on cryptocurrencies through the DeFi apps, Compound, and dYdX. While the DeFi apps were already available through Coinbase Wallet’s built-in decentralized application browser, the exchange asserts that the integration significantly increases the ease-of-use for users seeking to access DeFi protocols. The new feature will roll out for iOS this week, with Android support slated to follow in the near…

Coinbase Card Now Available on Android Phones Through Google Pay

Coinbase Card users owning supported Android phones can now avoid using the physical card. Through an integration with Google Pay announced on March 17, the card can be emulated by a mobile phone. The Coinbase Card connects a holder’s cryptocurrency balance on the exchange, which is then used for spending crypto via an instant conversion to fiat. The card can only be issued to residents of the European Union and European Economic Area, as well as the United Kingdom. Once issued, the card can be used anywhere Visa is supported.…

Coinbase Launches BTC Transaction Batching, Saving Users 50% on Fees

Major cryptocurrency exchange Coinbase recently unveiled a new feature on its platform designed to save users money on transactions fees. According to a blog post released by the exchange on March 13, Coinbase would immediately begin offering Bitcoin (BTC) transaction batching for its customers. The move taken by Coinbase, which “requires no action from customers”, will allow single on-chain transactions of cryptocurrencies to be bundled into one. The exchange predicts this will reduce the load on the BTC network and the resulting fees customers pay for sending money. Saving users…

Bitcoin Price Crash Forces Coinbase to Implement Transaction Batching

Coinbase, a leading United States-based cryptocurrency exchange has announced the introduction of Bitcoin transaction batching for both Coinbase and Coinbase Pro users. This will significantly slash transaction fees for traders, while also improving the scalability of the Bitcoin network, according to a blog post on March 12, 2020. Bitcoin Transaction batching Live on Coinbase  As the bears have once again taken over the markets, putting fear uncertainty and doubt in the hearts of crypto newbies, Coinbase exchange has decided to roll out the much-awaited Bitcoin transaction batching feature.  As stated…

Coinbase CEO Explains How Crypto Will Go from 50 Million to 5 Billion Users

Brian Armstrong, the CEO of major cryptocurrency exchange Coinbase, explained what developments he believes will drive the growth of cryptocurrency’s’ user base. In a series of tweets on March 4, Armstrong illustrated how the developments that resulted in the mass adoption of the internet are similar to the work that is currently being done on cryptocurrencies. While he admitted that it is not clear which blockchain “will help get crypto from ~50M users to 5B,” he predicted: “The chain that manages to ship some of these scalability, privacy, decentralized identity,…

Coinbase and Messari Employees Working Remotely due to Coronavirus

Just one week after releasing its plan for the coronavirus spread worldwide, Coinbase is recommending its employees prepare for the next phase, and they’re not the only ones. Coinbase CEO  Brian Armstrong sent out a Tweet to his 300K+ followers on Mar. 2 indicating the crypto firm would be directing certain employees to work from home. Within an hour, the founder of Messari, Ryan Selkis, posted a similar message stating the company would be “going remote first and will be scrapping most planned business travel for the next couple of…

Coinbase Registers as Second-Class Member with JVCEA

The Japan Virtual Currency Exchange Association (JVCEA) — the official self-regulatory organization for the crypto industry in Japan — announced on Mar. 2 that three additional companies have just registered as second-class members. Coinbase, Digital Asset Markets, and the Tokyo Hash have registered as reported by the JVCEA. Second-class members with the agency can be registered as crypto currency exchange companies, or businesses that are planning to apply.  Coinbase was reported to be licensed in Japan in 2019, but hasn’t really made any progress since last year. However, the crypto…

Coinbase Has Tested Clearview Facial Recognition Software

Coinbase, the U.S. cryptocurrency exchange boasting over 20 million views per month and over 30 million total accounts, has tested Clearview AI facial recognition technology according to a BuzzFeed News report. However, Coinbase has denied that the test involved customer data. The controversial software has been the subject of intense scrutiny since a New York Times article exposed the company’s database of over three billion images, scraped from “millions” of websites and social media platforms without the consent of the users or publishers. Clearview AI has been threatened with legal…

Coinbase Wallet Now Allows to Send Crypto Through Usernames

Coinbase updated its wallet with a function that lets its users send cryptocurrency through usernames, instead of the usual lengthy addresses. According to a Feb. 25 announcement, Coinbase Wallet now allows its users to send cryptocurrency to dedicated usernames or ones created on the Ethereum Name Service (ENS). Coinbase’s proprietary usernames look like @username while ENS names resemble URLs like coinbase.eth. Source: Coinbase blog No more sending to a wrong address In its announcement, Coinabse claims that its users often complain about “how cumbersome it is to deal with long…