Crypto.com, a Singapore-based cryptocurrency exchange, has recently announced a partnership with Standard Chartered, a multinational banking institution. This collaboration aims to offer retail users worldwide access to fiat services, specifically enabling deposits and withdrawals in the United States dollar (USD), euro (EUR), and the United Arab Emirates Dirham (AED) through the Crypto.com app. Initially, these services will only be available to retail clients in the UAE, with plans to expand globally from the exchange’s regional hub in Dubai. This strategic move is made possible by Dubai’s Virtual Assets Regulatory Authority (VARA), which supports the growth and development of digital assets.
Eric Anziani, President and COO of Crypto.com, expressed his excitement about the partnership with Standard Chartered, emphasizing the significance of launching global retail services. He highlighted the company’s dedication to providing a world-class customer experience while upholding the highest standards of security and compliance. Offering fiat deposit and withdrawal services aligns with Crypto.com’s mission to drive crypto adoption and make digital assets more accessible to a broader audience.
Rola Abu Manneh, CEO of Standard Chartered’s UAE, Middle East, and Pakistan divisions, spoke about the collaboration with Crypto.com in light of the UAE’s vision to establish itself as a prominent digital asset hub regionally and internationally. By providing tailored banking solutions to enhance the accessibility and functionality of Crypto.com’s retail services, Standard Chartered is contributing to the UAE’s National Agenda, which focuses on innovation, economic diversification, and the growth of a knowledge-based economy.
This partnership announcement follows Crypto.com’s recent achievements, including a historic multi-year partnership with the Union of European Football Associations (UEFA) to become the official global sponsor of the Champions League. Additionally, Crypto.com launched an exchange catering to institutional investors and became one of the first crypto platforms to receive operational approval from the VARA. These developments underscore the exchange’s commitment to expanding its services and establishing itself as a key player in the crypto industry.
The partnership between Crypto.com and Standard Chartered represents a significant step towards offering enhanced fiat services to retail users globally. By leveraging Standard Chartered’s banking expertise and Crypto.com’s innovative approach to digital assets, this collaboration has the potential to drive further adoption of cryptocurrencies and contribute to Dubai’s ambitions of becoming a leading digital asset hub.
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