Crypto.com has announced the launch of global retail services, which will enable seamless deposit and withdrawal capabilities for millions of users of its app across more than 90 countries. This development is expected to significantly enhance the efficiency and utility of its customers’ cryptocurrency transactions.
The global retail services will be offered through Crypto.com’s regional hub in Dubai, supported by Standard Chartered and Dubai’s Virtual Assets Regulatory Authority (VARA). The regulatory framework established by VARA ensures a secure environment that fosters the growth of digital assets, aligning with Crypto.com’s expansion strategy.
Beginning next month, users in the UAE will gain access to Crypto.com’s suite of retail products and services via its app. These include the ability to buy, sell, and trade over 250 cryptocurrencies. Following the initial rollout in the UAE, the service will be gradually extended to retail customers worldwide, offering the same advanced products and financial infrastructure for deposits and withdrawals.
According to Eric Anziani, President and COO of Crypto.com, partnering with Standard Chartered to launch these services marks a significant milestone in the company’s global expansion. He emphasized that this initiative not only advances their expansion efforts but also strengthens their commitment to providing a secure and compliant customer experience. Anziani sees the introduction of effortless fiat deposit and withdrawal options as crucial to increasing the adoption of cryptocurrencies.
Rola Abu Manneh, CEO of Standard Chartered in the UAE, highlighted that this collaboration aligns with the UAE’s National Agenda, which focuses on innovation and economic diversification. She noted that the partnership supports Crypto.com’s global reach by offering banking solutions that enhance the functionality and accessibility of its retail services. She believes this contributes to the UAE’s ambition to become a key regional and international hub for digital assets.
Standard Chartered is facilitating Crypto.com with banking and payment solutions, allowing near-real-time processing of deposits and withdrawals in USD, EUR, and AED via the Crypto.com App. This development follows Crypto.com’s achievement earlier this year when it became one of the first crypto platforms to receive full operational approval from Dubai’s Virtual Assets Regulatory Authority (VARA) and launched its exchange for institutional investors in April 2024.
Featured Image via Pixabay
