Crypto.com, a major cryptocurrency exchange based in Singapore, has partnered with Standard Chartered Bank to introduce new global retail services.
This collaboration will allow users to conduct transactions in United States dollars (USD), euros (EUR), and United Arab Emirates dirhams (AED) directly through the Crypto.com App.
The new services will be available to millions of users across more than 90 countries, making it easier for them to deposit and withdraw money in these fiat currencies.
This development is a big step forward in making cryptocurrency more accessible and useful for everyday users around the world.
The Global Head of Banking Partnerships and General Manager for the Middle East, Africa, and Asia-Pacific at Crypto.com, Karl Mohan, spoke about the benefits of this partnership.
He said that working with a well-known and trusted bank like Standard Chartered increases customer confidence and simplifies transactions.
Initially, these new services will be available in the UAE, but the plan is to expand them to other countries over time.
The launch is being supported by Dubai’s Virtual Assets Regulatory Authority (VARA), which provides a regulatory framework to ensure that the services meet high standards.
Enhancing customer experience
Crypto.com is starting this rollout in the UAE, where users will soon have access to the company’s wide range of retail products and services through the Crypto.com App.
This includes the ability to buy, sell, and trade over 250 different cryptocurrencies.
The President and Chief Operating Officer of Crypto.com, Eric Anziani, described the partnership with Standard Chartered as a significant milestone in the company’s journey.
He highlighted the importance of offering easy deposit and withdrawal options in traditional currencies, which is crucial for encouraging more people to adopt cryptocurrency.
Anziani also mentioned that this collaboration is part of Crypto.com’s broader goal of providing a world-class customer experience while ensuring the highest levels of security and compliance.
Standard Chartered’s support in this venture aligns with the UAE’s National Agenda, which focuses on innovation, economic diversification, and building a knowledge-based economy.
The CEO of Standard Chartered for the UAE, Middle East, and Pakistan, Rola Abu Manneh, said that the bank is pleased to be part of Crypto.com’s global expansion and is committed to offering tailored banking solutions that enhance the functionality of Crypto.com’s retail services.
Dubai: A key hub for crypto expansion
Crypto.com’s new services will be managed from the company’s regional hub in Dubai, which is known for its strict consumer protection laws.
Dubai has become a key location for cryptocurrency companies because of its proactive approach to regulation.
In 2022, Dubai’s Virtual Assets Regulatory Authority (VARA) introduced new rules to ensure that cryptocurrency advertisements are clear and accurate, protecting consumers from misleading information.
In 2023, the UAE implemented a federal law that requires all companies involved in cryptocurrency activities to obtain a licence from the regulator or face significant penalties.
Beyond regulatory developments, Crypto.com has also made headlines with its exclusive partnership with the UEFA Champions League.
This partnership makes Crypto.com the official global sponsor of the UEFA Champions League, which is expected to significantly increase the company’s visibility and help raise awareness of cryptocurrency among mainstream audiences.
Founded in 2016, Crypto.com has grown rapidly and now serves more than 100 million customers around the world.
The company is known for its strong focus on regulatory compliance, security, and privacy, and it remains committed to accelerating the adoption of cryptocurrency through continuous innovation.
Standard Chartered, on the other hand, is a leading international bank with operations in 53 of the world’s most dynamic markets and clients in 64 others. It would therefore be bringing its extensive experience and global reach to this partnership.
