On August 29, Crypto.com launched its global retail services in partnership with Standard Chartered, allowing users in over 90 countries to access deposit and withdrawal facilities via the Crypto.com App. This expansion was made possible through the regulatory framework established by Dubai’s Virtual Assets Regulatory Authority (VARA). The company claims that the launch will enhance the efficiency and utility of cryptocurrency transactions for millions of retail users worldwide. Standard Chartered will provide banking solutions that allow near-real-time processing of deposits and withdrawals in major currencies such as USD, EUR, and AED, making it the first to offer seamless deposit and withdrawal services in these currencies to over 90 countries.
The collaboration between Crypto.com and Standard Chartered aligns closely with the UAE’s National Agenda, focusing on innovation, economic diversification, and the development of a knowledge-based economy. The partnership aims to support the UAE’s vision of becoming a hub for digital assets by offering cutting-edge solutions that meet customers’ evolving needs in the region and beyond. The services will be first rolled out to customers in the United Arab Emirates (UAE), with plans to gradually expand to a global audience, providing robust financial rails for deposits and withdrawals.
Crypto.com’s recent achievements include the launch of its exchange for institutional investors in April 2024 after receiving full operational approval from VARA. This approval was a crucial step in establishing Crypto.com’s regional hub in Dubai, known for its stringent consumer protection regulations. In addition to the Dubai expansion, Crypto.com has been enhancing its global presence by securing partnerships and launching specialized platforms across different regions. The company recently became the first crypto platform to partner with the UEFA Champions League, launched a trading platform in Korea, partnered with BTG Pactual in Brazil to improve banking services, and obtained licenses in various European countries.
Overall, Crypto.com’s strategic partnerships and expansions demonstrate its commitment to providing innovative solutions to the global cryptocurrency market. By leveraging the regulatory framework in Dubai and partnering with established financial institutions like Standard Chartered, Crypto.com is positioning itself as a key player in the digital asset space. The launch of its retail services in over 90 countries signals a significant milestone for the company and highlights its dedication to meeting the evolving needs of retail users worldwide. As the crypto industry continues to evolve, Crypto.com’s strategic moves and achievements position it for further growth and success in the competitive market.
