According to industry news, the all-channel trading platform Based recently announced a major business adjustment decision. The company will discontinue its Visa card product service in the Singapore market and has stopped accepting new Visa card applications.

Based indicates that this decision stems from a shift in the company's strategic focus. In the future, Based will concentrate its main efforts on the development and improvement of self-custody wallet software. Meanwhile, the company also plans to actively expand its international business beyond Singapore in search of broader development space.

It is worth noting that Based has also announced the withdrawal of its previous license application submitted to the Monetary Authority of Singapore. This application was submitted under the Singapore Payment Services Act 2019. This move further confirms the company's adjustment in its strategy for the Singapore market.

This business restructuring reflects Based's keen judgment and flexible response to market conditions. By focusing on the core technology of self-custody wallets, Based is expected to find new growth points in the increasingly competitive cryptocurrency market. At the same time, the company's efforts to expand its international business also demonstrate its strategic intention to seek diversified development.

For users based on this, this change may bring some short-term inconveniences. However, in the long run, the company's investment in core technology may provide users with a safer and more convenient digital asset management experience.