Singapore-based crypto exchange Crypto.com has teamed up with Standard Chartered Bank to roll out new global retail services. This partnership will allow customers to handle transactions in Euros, US dollars, and UAE dirhams.
According to reports, the new services will allow people in more than 90 countries to deposit and withdraw currencies easily using the Crypto.com app. Furthermore, Karl Mohan, Crypto.com’s global head of banking partnerships and general manager for MEA and APAC, called the partnership a “win-win situation.”
Partnership expansion details
The new global services will first be offered to customers in the UAE, with plans to expand gradually in the future. Standard Chartered Bank is backing this expansion, which follows the guidelines set by Dubai’s Virtual Assets Regulatory Authority (VARA).
President and chief operating officer at Crypto.com, Eric Anziani, said that the partnership is a major milestone for the company. Moreover, he emphasized that providing streamlined fiat deposit and withdrawal options for their global customers is crucial for boosting adoption and achieving their aim of having crypto in every wallet.
Dubai’s VARA framework hub
Crypto.com will launch its new global retail services from its Dubai hub in the UAE, a region known for its strict consumer protection regulations. Additionally, in 2022, Dubai introduced new rules requiring marketers and promoters to make their ads clearer, aiming to better protect consumers.
Then, in 2023, the UAE enacted a federal law mandating that anyone involved in crypto activities must obtain a license and approval from the regulator, or they could face serious penalties.
Crypto.com partners with UEFA Champions League
On Aug. 14, Crypto.com scored a major win by becoming the first crypto platform to partner with the UEFA Champions League. Specifically, This exclusive deal makes Crypto.com an official global sponsor of the league.
As part of the partnership, Crypto.com will have special opportunities to connect with fans through unique promotions, branded content, and interactive experiences. The partnership could do more than just sponsor events; it might also help spread the word about crypto to a wider audience.
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