Crypto.com, a well-known cryptocurrency exchange based in Singapore, has recently announced a partnership with Standard Chartered, a multinational banking institution. This partnership aims to offer fiat services to retail users worldwide. By leveraging Standard Chartered’s banking and payment solutions, Crypto.com will enable users to make deposits and withdrawals in the United States dollar (USD), the euro (EUR), and the United Arab Emirates Dirham (AED) on their platform.
Initially, these new fiat services provided by Crypto.com in collaboration with Standard Chartered will be accessible to retail clients in the United Arab Emirates (UAE). However, the exchange has plans to expand its offerings globally through its regional hub in Dubai. This expansion is made possible by the supportive regulatory framework established by Dubai’s Virtual Assets Regulatory Authority (VARA), which is dedicated to promoting the growth and development of digital assets.
Eric Anziani, the President and COO of Crypto.com, expressed his excitement about the partnership with Standard Chartered, highlighting it as a significant milestone in the exchange’s global expansion plans. He emphasized the importance of delivering a world-class customer experience while ensuring the highest levels of security and compliance. Anziani also mentioned that offering fiat deposit and withdrawal services is part of Crypto.com’s efforts to drive crypto adoption among users.
Rola Abu Manneh, the CEO of Standard Chartered’s UAE, Middle East, and Pakistan divisions, emphasized that the partnership with Crypto.com aligns with the UAE’s mission to establish itself as a regional and international digital asset hub. By providing tailored banking solutions to enhance the accessibility and functionality of Crypto.com’s retail services, Standard Chartered aims to support the exchange’s global expansion efforts. This collaboration is in line with the UAE’s National Agenda, which focuses on innovation, economic diversification, and the growth of a knowledge-based economy.
Recent Developments and Partnerships
In addition to the partnership with Standard Chartered, Crypto.com has been making significant strides in the industry. They recently secured a multi-year partnership with the Union of European Football Associations (UEFA) to serve as the official global sponsor during the Champions League. Moreover, Crypto.com launched an exchange catering to institutional investors and became one of the first crypto platforms to receive operational approval from the VARA.
The collaboration between Crypto.com and Standard Chartered represents a major step towards enhancing the accessibility of digital assets for retail users globally. By leveraging the expertise and resources of both entities, this partnership is poised to drive further innovation and growth in the cryptocurrency space.