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29/08/24
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Crypto.com Partners with Standard Chartered to Enhance Fiat Transactions Globally
Crypto.com, the Singapore-based cryptocurrency exchange, has introduced new global retail services in collaboration with Standard Chartered Bank, facilitating transactions in USD, EUR, and AED for users in over 90 countries. This development allows customers to deposit and withdraw these fiat currencies seamlessly through the Crypto.com app.
Initially, these services will roll out in the United Arab Emirates, with plans for gradual expansion into additional markets. This strategic partnership is underpinned by the regulatory framework established by Dubai’s Virtual Assets Regulatory Authority (VARA), which supports the security and accountability of financial transactions. The partnership is designed to offer users a trusted platform, enhancing their confidence in engaging with cryptocurrency.
According to representatives from Crypto.com, this collaboration marks a significant progression for the company, as it aims to simplify the process of fiat transactions for a global audience. By providing effortless deposit and withdrawal capabilities, the initiative seeks to promote broader adoption of cryptocurrencies and align with the company’s objective of integrating crypto into everyday financial transactions.
Dubai has emerged as a focal point in this venture, recognized for its stringent consumer protection measures. Recent regulatory developments in the UAE have set clear guidelines for companies operating in the crypto space, mandating licenses and ensuring compliance to mitigate risks associated with digital assets.
In another significant move, Crypto.com has secured a groundbreaking partnership with the UEFA Champions League, becoming the first cryptocurrency platform to serve as an official global sponsor. This collaboration not only enhances the exchange’s visibility among sports enthusiasts but also serves as a platform to elevate awareness and understanding of cryptocurrency among the general public. By intertwining sports and digital finance, Crypto.com is poised to play a pivotal role in bridging the gap between traditional sports fans and the emerging world of cryptocurrency.
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