TechFlow News, May 27: Coinbase announced a partnership with Standard Chartered Bank to expand its global multi-currency fiat funding rails for institutional clients. The expansion adds support for AUD, SGD, CAD, and CHF, while EUR and GBP settlements are enabled via a Global Systemically Important Bank (G-SIB), covering both Coinbase Prime and Coinbase Exchange.
This collaboration aims to enhance institutional cross-market fund transfers, reduce friction in foreign exchange conversions, enable institutions to manage multi-currency portfolios in their local currency, fund positions across global markets, and optimize cross-regional rebalancing processes. Coinbase stated that it will continue advancing capabilities for conversion and settlement between local fiat currencies and local stablecoins.
