Crypto.com taps Standard Chartered to offer fiduciary services to users worldwide

Singapore-based cryptocurrency exchange Crypto.com has partnered with leading multinational banking institution Standard Chartered to offer fiat services to retail users around the world.

According to a press release shared with CryptoPotatoStandard Chartered will provide the exchange with banking and payment solutions to enable deposits and withdrawals of US Dollar (USD), Euro (EUR) and UAE Dirham (AED) on the Crypto.com App.

Crypto.com Launches Retail Services

Crypto.com’s new services will initially be available only to retail customers in the United Arab Emirates (UAE). The exchange intends to eventually expand its offerings to global users via its regional hub in Dubai. The company attributed the possibility of this expansion to the framework established by the Dubai Virtual Asset Regulatory Authority (VARA), which supports the growth and development of digital assets.

In addition to retail fiat services, UAE customers can access Crypto.com’s retail products and services on the exchange’s app, including trading in hundreds of cryptocurrencies.

Eric Anziani, President and COO of Crypto.com, said:

Partnering with Standard Chartered to launch our retail services globally is an important milestone for us. Not only is it a significant step forward in our global expansion plans, it also enables us to deliver on our commitment to delivering a world-class customer experience while maintaining the highest levels of security and compliance.

Anziani added that the exchange’s decision to offer users fiat currency deposit and withdrawal services is part of its efforts to drive crypto adoption.

Crypto.com’s Latest Advances

Rola Abu Manneh, CEO of Standard Chartered’s UAE, Middle East and Pakistan divisions, explained that the partnership with Crypto.com aligns with the UAE’s mission to become a regional and international hub for digital assets.

“We are pleased to support Crypto.com’s global expansion by providing tailored banking solutions that enhance the accessibility and functionality of their retail services. This collaboration aligns closely with the UAE’s national agenda that focuses on innovation, economic diversification and the growth of a knowledge-based economy,” he added.

The latest announcement follows Crypto.com signing a landmark multi-year partnership with the Union of European Football Associations (UEFA) approximately two weeks ago to serve as the Official Global Sponsor during the Champions League.

Additionally, Crypto.com recently unveiled an exchange for institutional investors and became one of the first crypto platforms to receive operational approval from VARA.