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Crypto.com has announced a major expansion of its retail services, offering seamless fiat deposit and withdrawal options for millions of users worldwide. This move is powered by a strategic partnership with global banking giant Standard Chartered, the Singapore-based cryptocurrency exchange announced on Thursday.
The partnership aims to improve the efficiency and utility of customers’ crypto journeys by enabling them to transfer traditional currencies (fiat) like USD, EUR, and AED to and from their Crypto.com accounts.
Crypto.com's global retail services will be rolled out through its Dubai hub, leveraging the forward-thinking regulatory environment fostered by Dubai's Virtual Assets Regulatory Authority (VARA). This ensures a secure and compliant platform for users to explore the world of cryptocurrency.
The service will initially be available to users in the UAE, granting them access to Crypto.com's extensive suite of products and services, including buying, selling, and trading over 250 cryptocurrencies. Following a successful UAE rollout, Crypto.com plans to progressively expand the service to its global user base.
"Not only is it a significant step forward in our global expansion plans, but also enables our commitment to delivering a world-class customer experience whilst maintaining the highest levels of security and compliance,” Eric Anziani, president and COO of Crypto.com, said in the announcement.
“Being able to offer our global customers effortless fiat deposit and withdrawal capabilities is key to increasing adoption and reaching our vision of crypto in every wallet,” Anziani added.
This collaboration also aligns with the UAE's vision to become a regional and international hub for digital assets, Crypto.com noted.
Earlier this week, the exchange said it inked a deal with PayPal to offer crypto purchases for users in the United States. The feature, which will soon be available beyond the US, will allow users to connect their PayPal and Crypto.com wallets to transfer funds from the former to the latter to buy cryptocurrencies.
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Crypto.com also announced earlier this month an exclusive multi-year partnership with football's most prestigious club competition, the UEFA Champions League, making it the first global crypto platform to partner with the tournament, through which it will serve as an official global sponsor.
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