Updated: August 29, 2024 2:37 PM EDT
Crypto.com, a Singapore-based cryptocurrency exchange, has announced a new retail service offering in partnership with Standard Chartered to expand access to the US dollar, euro, and UAE dirham. The global retail service is managed from Crypto.com’s regional hub in Dubai and is available in 90 countries.
“This is not only a significant step forward in our global expansion plans, but also enables our commitment to providing a world-class customer experience while maintaining the highest levels of security and compliance,” said Eric Anziani, President and COO of Crypto.com. name It was published on Thursday.
The service, which enables “seamless” fiat deposits and withdrawals via the Crypto.com app, will be launched next month for customers in the UAE and will expand there. Standard Chartered Bank is providing the “tailored” banking and payments solution.
Dubai has become a hub for crypto activity since the launch of its bespoke Virtual Asset Regulatory Authority (VARA) regulatory framework in 2022. Founded in 2016, Crypto.com was one of the first exchanges to receive regulatory approval to operate in the region, establishing a regional hub and launching an institutional-focused division.
“This collaboration is closely aligned with the UAE’s national agenda, which emphasizes innovation, economic diversification and the growth of a knowledge-based economy,” said Rola Abu Manneh, Standard Chartered’s CEO for the UAE, Middle East and Pakistan.
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About the Author
Daniel Kuhn is a senior journalist and editor at The Block, covering the cryptocurrency industry with a particular focus on technology. He previously served as an associate editor at CoinDesk, where he covered the opinions/articles section. He was first published in the trade publication Financial Planning. Before pursuing journalism, he studied philosophy as an undergraduate, English literature as a graduate student, and business and economic reporting at NYU’s professional program. You can connect with him on Twitter and Telegram @danielgkuhn, or find him on Urbit as ~dorrys-lonreb.