Coinbase is taking a major step to make crypto feel more familiar to everyday users. It announced that it will add two fiat-backed stablecoins, the Australian dollar-based (AUDD) and the Singapore dollar-backed (XSGD) to its trading platform starting September 29, 2025, at 19:00 UTC.
For Coinbase, this isn’t just another token listing, it’s part of a bigger plan to bring a billion people into crypto by letting them transact in the money they already know and use.
Through a blog post, Coinbase reveals that AUDD is issued by AUDC Pty Ltd, fully backed 1:1 by Australian dollar reserves. Meanwhile, XSGD, developed by StraitsX, is tied to the Singapore dollar and recognized by the Monetary Authority of Singapore (MAS).
It also fits into Singapore’s new Single Currency Stablecoin regulatory framework, a rare case of crypto tokens aligning neatly with government rules.
However, this move significantly reduces friction for Australians and Singaporeans converting between fiat and crypto.
According to an Ipsos survey commissioned by Coinbase, over 70% of crypto holders in these countries want local stablecoins they can actively use, addressing both day-to-day and cross-border payment needs.
The stablecoin market has exploded, hitting $250 billion in value this year after processing more than $30 trillion in transactions in 2024. But here’s the catch: nearly all of it runs on the U.S. dollar.
That leaves people outside the U.S. paying extra for conversions and missing out on the convenience of transacting in their own money.
Coinbase wants to change that. With AUDD and XSGD, users in Australia and Singapore will soon be able to convert their local dollars into these stablecoins on Coinbase without paying fees.
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