Coinbase Targets Southeast Asia Crypto Expansion By Supporting Development Of Baht, Peso Stablecoins: 'Literally The Same Money But Just Faster'

Coinbase Global Inc. (NASDAQ:COIN) is advancing its Southeast Asian expansion through stablecoin initiatives in Thailand and the Philippines, as cryptocurrency markets reach new heights amid expectations of a more crypto-friendly U.S. administration.

What Happened: Jesse Pollak, founder of Base and head of Coinbase Wallet, emphasized the strategic importance of local currency stablecoins for mass blockchain adoption in Southeast Asia, reported Nikkei on Thursday.

While Coinbase Exchange isn’t immediately entering these markets, the company’s wallet business and Base blockchain platform are targeting developers in Thailand and the Philippines to build infrastructure supporting baht and peso stablecoins.

“When you bring a local currency ‘onchain,’ it solves a few problems,” ...

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