Coinbase has revealed a new strategic step to enhance its position in the cryptocurrency market, announcing the listing of two stablecoins backed by local currencies, namely AUDD linked to the Australian Dollar and XSGD linked to the Singapore Dollar. The official trading of these two coins will begin on Coinbase on September 29, 2025, at 7 PM Coordinated Universal Time.
With this move, Coinbase aims to make cryptocurrencies more accessible to users in Australia and Singapore by providing stable local alternatives that facilitate payment and transfer processes. The company emphasizes that this addition is not merely a symbolic listing, but part of its ambitious plan to attract one billion new users to the world of digital assets.
The AUDD coin is issued by AUDC Pty Ltd and is fully backed 1:1 by Australian dollar reserves. Meanwhile, the XSGD coin is developed by StraitsX and is directly linked to the Singapore dollar, also enjoying official recognition from the Monetary Authority of Singapore (MAS), giving it exceptional regulatory clarity in the Southeast Asian market.
Coinbase clarifies that the listing of these stablecoins will significantly ease the challenge of converting fiat currencies into digital assets. Australian and Singaporean users will be able to exchange their local currencies directly for AUDD or XSGD without incurring trading fees. Additionally, they will have the opportunity to benefit from multiple liquidity pools such as XSGD/USDC on Aerodrome Finance, enhancing the role of these coins in payments, settlements, and decentralized finance (DeFi) use cases.
This decision comes at a time when the stablecoin market is witnessing significant expansion, as its value exceeded $250 billion this year after more than $30 trillion in transactions were processed in 2024. While most of these coins remain dollar-denominated, Coinbase seeks to offer local options that reduce reliance on the dollar and provide users the freedom to transact in their national currencies.
Through this step, Coinbase continues to strengthen its global presence, reaffirming its commitment to connecting the traditional economy with the digital economy and providing innovative solutions that meet users' daily needs.
