Singapore-based global cryptocurrency exchange, Crypto.com has partnered with Standard Chartered Bank. The exchange made the disclosure on Thursday via a post on X.
According to the announcement, Crypto.com in partnership with Standard Chartered Bank will launch a new global retail service. As part of the initiative, the exchange will now be able to offer customers fiats like USD, EUR, UAE Dirham, and many more.
More so, users of the cryptocurrency exchange across more than 90 countries have the opportunity to use the above-listed fiats for deposit and withdrawal on the platform. Meanwhile, in the statement, Crypto.com revealed that the initiative will be first made available to users in the United Arab Emirates.
The firm established that there are already plans in place to extend the services to users in other areas as soon as possible. Likewise, Crypto.com indicated that the expansion effort is supported by the oversight guidelines of the Virtual Assets Regulatory Authority (VARA) in Dubai.
Reaction to the Partnership
The president and chief operating officer of Crypto.com, Eric Anziani has described the collaboration as a huge step for the cryptocurrency exchange. In his words, the executive illustrated how the seamless fiat deposit and withdrawal options will help drive the firm’s vision.
Similarly, the global head of banking partnerships and general manager of MEA and APAC of Crypto.com, Karl Mohan also weighed his opinion on the partnership. Mohan discussed how the synergy with Standard Chartered Bank is a win-win situation.
Further, the executive buttressed how the partnership with Standard Chartered Bank will help improve customers’ confidence in the exchange. Mohan discussed how the bank’s recognition as a trusted brand can increase trust in the industry and allow users to make transactions easily.
Side Note on Crypto.com
Lately, Crypto.com has intensified its expansion effort which has fetched the exchange some international recognition. In August, the crypto exchange landed an exclusive partnership deal with the UEFA Champions League.
The multi-year deal saw Crypto.com emerge as a global sponsor of the UEFA Champions League. Also, by gaining such a large footballing platform in Europe, Crypto.com is aiming to become a force to reckon with in the crypto sector of the region.
According to Coinmarketcap, Crypto.com is presently the 13th largest cryptocurrency exchange by trading volume. The exchange has a daily trading volume of more than $2.7 billion.Â
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