As a seasoned crypto investor with a knack for navigating the digital asset landscape, I find this latest development from Crypto.com truly exciting! The global retail services expansion, backed by the regulatory prowess of VARA and supported by Standard Chartered, is not just a leap forward; it’s a giant leap for crypto kind!
Crypto.com has unveiled plans to start a worldwide retail service. This new feature will provide effortless deposit and withdrawal options for over 90 million users of their app, spread across nearly 100 countries. This expansion is predicted to greatly boost the convenience and usefulness of transactions involving cryptocurrencies for its customers.
Through Crypto.com’s regional center in Dubai, backed by Standard Chartered and the Dubai Virtual Assets Regulatory Authority (VARA), we will provide our worldwide retail services. The regulatory structure set up by VARA creates a secure setting that encourages the development of digital assets, which aligns with Crypto.com’s growth strategy as it prioritizes security and expansion.
Starting next month, users based in the UAE can expect to utilize Crypto.com’s range of retail offerings through its app. This encompasses options to purchase, sell, and trade more than 250 different cryptocurrencies. After an initial launch in the UAE, these services will be progressively expanded to users across the globe. They can then enjoy the same advanced features for deposits, withdrawals, and other financial transactions.
As stated by Eric Anziani, President and COO of Crypto.com, teaming up with Standard Chartered for these services is a notable step forward in the company’s global growth journey. This collaboration not only bolsters their expansion plans but also reinforces their dedication to delivering a secure and compliant customer service experience. Anziani believes that the addition of seamless fiat deposit and withdrawal options will be instrumental in boosting the acceptance and use of cryptocurrencies.
Rola Abu Manneh, CEO of Standard Chartered in the UAE, emphasized that this partnership lines up with the UAE’s national goal, which concentrates on innovation and economic diversification. She pointed out that this collaboration boosts Crypto.com’s global reach by providing banking services that improve the functionality and accessibility of its retail offerings. She thinks this move supports the UAE’s aim to establish itself as a significant regional and international hub for digital assets.
Standard Chartered is providing Crypto.com with banking and payment services, enabling swift processing of deposits and withdrawals in USD, EUR, and AED via the Crypto.com App. This move comes after Crypto.com secured full operational approval from Dubai’s Virtual Assets Regulatory Authority (VARA) earlier this year, making it one of the first crypto platforms to do so. In April 2024, they also launched their exchange platform for institutional investors.
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2024-08-29 12:14