Crypto.com Partners With Standard Chartered To Launch Global Retail Services From Dubai

Crypto.com, a leading cryptocurrency platform, announced the launch of its global retail services from its regional hub in Dubai.

On 29 August 2024, Crypto.com revealed its partnership with Standard Chartered. The bank will provide Crypto.com with tailored banking and payment solutions.

Crypto.com users will be able to access deposit and withdrawal facilities. “With this, Crypto.com will be first to offer USD, EUR and AED deposit and withdrawals to customers globally,” the announcement said.

Eric Anziani, President and COO of Crypto.com commented, “Being able to offer our global customers effortless fiat deposit and withdrawal capabilities is key to increasing adoption and reaching our vision of crypto in every wallet.”

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Collaboration Closely Aligns With UAE’s National Agenda

By leveraging Dubai’s strategic location and regulatory framework, crypto.com aims to provide seamless deposit and withdrawal capabilities for its app users worldwide.

“This collaboration closely aligns with the UAE’s National Agenda which emphasises innovation, economic diversification, and the growth of a knowledge-based economy,” said Rola Abu Manneh, Standard Chartered CEO for UAE, Middle East.

Furthermore, the services will be regulated by Dubai’s Virtual Assets Regulatory Authority (VARA). VARA’s regulations cover various aspects of virtual asset activities, including advisory, exchange, custody, and management services.

Established in 2022, VARA is the world’s first standalone regulatory body dedicated to virtual assets.

“By providing cutting edge solutions that meet the evolving needs of customers across the UAE and beyond, we are contributing to the UAE’s vision of becoming a regional and international hub for digital assets,” said Abu Manneh. 

The partnership aims to enhance the efficiency and utility of cryptocurrency transactions for millions of users across more than 90 countries.

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Huge Milestone For Crypto.com

The collaboration with Standard Chartered plays a crucial role in Crypto.com’s expansion.

✅ First to offer seamless USD, EUR and AED deposit and withdrawal in over 90 countries.

We’re excited to announce the launch of global retail services to our millions of users worldwide, powered by Standard Chartered Bank from our Dubai hub.
Learn more:https://t.co/mv5kgfi8QU pic.twitter.com/gOgc4qXaBE

— Crypto.com (@cryptocom) August 29, 2024

Commenting on the partnership, Anziani said, “Working with Standard Chartered to launch our global retail services is a huge milestone for us.”

“Not only is it a significant step forward in our global expansion plans,” he added, “but also enables our commitment to delivering a world-class customer experience whilst maintaining the highest levels of security and compliance.”

Beginning next month, users in the UAE will gain access to Crypto.com’s suite of retail products and services via its app. 

These services 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.

The introduction of effortless fiat deposit and withdrawal options can be seen as a crucial step in crypto adoption.

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Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.