U.S. based bitcoin company Coinbase has expanded to Singapore retailers to offer buy and sell operations, according to a report by Reuters. This deployment is part of Coinbase's strategy to expand bitcoin worldwide.

This money transfer service will be launched on September 3 and will enable customers to buy or sell bitcoin with Singapore dollars.

"About a year ago, we made a decision to offer bitcoin services to as many countries in the world," Coinbase CEO Brian Armstrong said in an interview with Reuters. Armstrong plans to expand Coinbase's countries of operation from 28 to 40 by the end of 2015. "That would be an aggressive goal. So we may end up 2015 with 30-40 countries."

Last week, Coinbase also opened a retail bitcoin buy and sell service in Canada.