Will Coinbase Business' Debut in Singapore Drive Global Expansion?

Coinbase Global COIN has rolled out Coinbase Business in Singapore, its first international market outside the United States. This marks yet another endeavor in COIN’s international expansion strategy. Also, this marks its continuous efforts to be the industry’s premier “everything exchange.”

COIN has launched Coinbase Business, banking on Coinbase-backed stablecoin USDC and in partnership with Standard Chartered. Per cryptonews COIN stated that this launch builds on its recent collaboration with the Monetary Authority of Singapore under the BLOOM Initiative. Coinbase Business is designed to help companies use digital assets for payments, treasury management, cross-border settlements, and payroll. COIN considers Singapore to be Asia’s digital hub. This launch thus helps COIN scale its business in Asia, where crypto is increasingly adopted. 

COIN’s international operations are spread across Australia, Brazil, Kenya, the European Union, India, Japan, the Philippines, Indonesia, Singapore, the United Kingdom and Switzerland, among others. As part of its international expansion strategy, this January, COIN obtained Virtual Asset Service Provider registration from Argentina's National Securities Commission. The crypto leader now operates legally in Argentina. COIN has re-entered the Indian market this year and, in October, made an investment in CoinDCX, which is a leading crypto exchange in India and the Middle East.

Coinbase’s international expansion underscores its efforts to diversify revenues and lower dependence on U.S. operations. Revenues from international operations contributed 16.8% to total revenues in 2024, up 450 basis points from the 2023 level and increased nearly threefold year over year. However, revenues from U.S. operations constitute the majority of its top line.

What About COIN’s Peers?    

Circle Internet Group’s CRCL international expansion strengthened its position as a global fintech powerhouse. By expanding its footprint across Europe, Asia and Latin America, Circle has gained stronger access to regulated digital markets. By accelerating global USDC adoption, Circle positions itself for sustained growth and leadership in the rapidly evolving digital financial ecosystem.

Robinhood Markets’ HOOD international expansion enables it to tap into rising global retail investing demand. By establishing operations in the United Kingdom and Asia, Robinhood broadens revenue streams and reduces reliance on U.S. markets. With strategic acquisitions and regional hubs, Robinhood is well-positioned for sustained growth and a stronger presence in the global fintech landscape.

COIN’s Price Performance

Shares of COIN have gained 14.4% year to date, outperforming the industry.     

COIN’s Expensive Valuation

COIN trades at a price-to-earnings value ratio of 46.36, above the industry average of 24.19. It carries a Value Score of F.

Estimate Movement for COIN

The Zacks Consensus Estimate for COIN’s fourth-quarter 2025 and first-quarter 2026 EPS witnessed no movement in the past seven days. The consensus estimate for full-year 2025 has moved 0.4% north, while that of 2026 EPS has witnessed no movement in the past seven days.
 

The consensus estimates for COIN’s 2025 and 2026 revenues indicate year-over-year increases. Though the consensus estimate for COIN’s 2025 EPS indicates an increase, the same for 2026 indicates a decline.
 
COIN stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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This article originally published on Zacks Investment Research (zacks.com).

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