Hassan Maishera
TL;DR
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Crypto.com taps Standard Chartered to expand access to the US Dollars, Euros, and the UAE Dirham.
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The new fiat services will be managed from Crypto.com’s regional hub in Dubai.
Standard Chartered to Help Crypto.com Expand its Global Fiat Services
Crypto.com, one of the leading cryptocurrency exchanges in the world, has partnered with Standard Chartered to launch a new retail services business to expand access to U.S. dollars, euros, and United Arab Emirates dirham.
According to the Singapore-based crypto exchange, the new global retail services will be managed from its Dubai regional hub and available in 90 countries.
While commenting on this latest development, President and COO of Crypto.com Eric Anziani said,
"Not only is it a significant step forward in our global expansion plans, but also enables our commitment to delivering a world-class customer experience whilst maintaining the highest levels of security and compliance.”
Rola Abu Manneh, Standard Chartered’s CEO for the UAE, Middle East, and Pakistan regions, commented that,
“This collaboration closely aligns with the UAE’s National Agenda, which emphasizes innovation, economic diversification, and the growth of a knowledge-based economy.”
The new global service will enable easy fiat deposits and withdrawals via the Crypto.com app. The service will become available to customers in the UAE next month before Crypto.com expands to other parts of the world. Standard Chartered will provide banking and payment solutions for this new service.
The move doesn’t come as a surprise, as Dubai has become a hub for crypto activity thanks to the launch of the Virtual Assets Regulatory Authority (VARA) regulatory regime in 2022.
Crypto.com became one of the first exchanges to achieve regulatory approval in Dubai after obtaining its license last year.
