Crypto.com uses Standard Chartered to provide fiat services to users worldwide

Singapore-based cryptocurrency exchange Crypto.com has partnered with Standard Chartered, the leading multinational banking institution, to provide fiduciary services to retail users worldwide.

According to a press release shared with CryptoPotato, Standard Chartered will provide the exchange with banking and payment solutions to enable deposits and withdrawals in the United States Dollar (USD), the Euro (EUR) and the United Arab Emirates Dirham ( AED). in the Crypto.com app.

Crypto.com launches retail services

Crypto.com’s new services would initially be available only to retail customers in the United Arab Emirates (UAE). The exchange intends to expand its offering to global users through its regional hub in Dubai. The firm attributed the possibility of the expansion to the framework established by Dubai’s Virtual Assets Regulatory Authority (VARA), which supports the growth and development of digital assets.

In addition to retail fiduciary services, UAE customers can access Crypto.com’s retail products and services on the exchange’s app, including trading hundreds of cryptocurrencies.

Eric Anziani, president and COO of Crypto.com, said:

Working with Standard Chartered to launch our global retail services is a huge milestone for us. Not only is it an important step in our global expansion plans, it also enables our commitment to deliver a world-class customer experience while maintaining the highest levels of security and compliance.

Anziani added that the exchange’s decision to offer users fiat deposit and withdrawal services is part of its efforts to encourage crypto adoption.

The latest exploits of Crypto.com

Rola Abu Manneh, Managing Director of Standard Chartered’s UAE, Middle East and Pakistan divisions, explained that the partnership with Crypto.com aligns with the UAE’s mission to become an asset hub regional and international digital.

“We are pleased to support Crypto.com’s global expansion by providing tailored banking solutions that enhance the accessibility and functionality of its retail services. This collaboration closely aligns with the UAE’s National Agenda which it emphasizes innovation, economic diversification and the growth of a knowledge-based economy,” he added.

The latest announcement comes about two weeks ago that Crypto.com has secured a historic multi-year partnership with the Union of European Football Associations (UEFA) to serve as the official global sponsor during the Champions League.

Additionally, Crypto.com recently introduced an exchange for institutional investors and became one of the first crypto platforms to receive an operational nod from the VARA.

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