In a groundbreaking move, the Singapore-based cryptocurrency exchange Crypto.com has joined forces with Standard Chartered, a multinational banking giant, to provide fiat services to retail users on a global scale. This partnership aims to revolutionize the way users interact with cryptocurrencies by offering seamless banking and payment solutions.
Initially, the new fiat services provided by Standard Chartered will be available exclusively to retail clients in the United Arab Emirates (UAE). However, Crypto.com has ambitious plans to expand its offerings to users worldwide through its regional hub in Dubai. This expansion 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 excitement about the partnership with Standard Chartered, describing it as a significant milestone in the company’s global expansion efforts. By offering fiat deposit and withdrawal services, Crypto.com aims to foster greater adoption of cryptocurrencies among retail users while upholding the highest standards of security and compliance.
Rola Abu Manneh, CEO of Standard Chartered’s UAE, Middle East, and Pakistan divisions, highlighted the alignment of the partnership with the UAE’s mission to become a hub for digital assets regionally and globally. The tailored banking solutions provided by Standard Chartered will enhance the accessibility and functionality of Crypto.com’s retail services, reinforcing the UAE’s commitment to innovation and economic diversification.
This collaboration between Crypto.com and Standard Chartered comes on the heels of several significant developments for the cryptocurrency exchange. Recently, Crypto.com secured a groundbreaking partnership with the Union of European Football Associations (UEFA) to become the official global sponsor of the Champions League. Additionally, Crypto.com unveiled an institutional exchange for investors and received operational approval from VARA, further solidifying its position as a leading player in the crypto space.
Leave a Reply