Coinbase, a San Francisco-based bitcoin company, has formally forayed into Asian market by launching its services in Singapore.

The launch will enable customers in Singapore to buy and sell bitcoin with Singapore dollars using Coinbase starting 3 September 2015.

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As an introductory offer, Coinbase will waive its retail conversion fees for Singapore customers until 9 September 2015.

Coinbase international expansion lead David Farmer said: "To date, more than 15,000 people in Singapore have signed up for a Coinbase Wallet, and by extending our buy and sell service to the country, we’re helping to make their on-ramp to the Bitcoin world as simple and as safe as possible moving forward."

Coinbase, which has raised more than $100m in four venture rounds, is now open to consumers in 28 countries globally.

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