- Crypto.com is expanding globally through Retail Services, debuting in the UAE.
- The collaboration with Standard Chartered provides security and regulatory compliance.
As a seasoned analyst with over two decades of experience in the financial industry, I’ve seen the evolution of digital currencies from a distant concept to a mainstream investment option. The recent expansion of Crypto.com into the UAE is not just another step in their global growth strategy; it’s a significant leap that underscores the maturity and acceptance of cryptocurrencies as a viable alternative to traditional assets.
Crypto.com, a prominent Singapore-based cryptocurrency exchange, unveiled upcoming global retail services designed to streamline crypto transactions for more than 90 countries’ users, starting from next month. These services will be managed through Crypto.com’s regional center in Dubai, with support from Standard Chartered and the Virtual Assets Regulatory Authority (VARA) of Dubai. This development aims to make deposit and withdrawal processes smoother, thereby improving the efficiency and accessibility of cryptocurrency transactions.
Crypto.com Launch Sparks Global Expansion
At first, UAE residents will have the opportunity to utilize Crypto.com’s complete range of retail services, allowing them to buy, sell, and trade more than 250 different cryptocurrencies through the app. Later, this service will be extended globally, providing the same advanced financial infrastructure for users worldwide.
In simple terms, Eric Anziani, President and COO of Crypto.com, referred to their partnership with Standard Chartered as a pivotal moment in the company’s global expansion. He emphasized that this collaboration underscores their commitment to ensuring a secure and compliant customer experience, which is essential for boosting cryptocurrency adoption.
Rola Abu Manneh, the CEO of Standard Chartered UAE, affirmed that this partnership aligns with the UAE’s strategic goals for innovation and economic diversification. This collaboration is instrumental in extending Crypto.com’s global reach while enhancing its retail services through the facilitation of near-instant deposits and withdrawals in USD, EUR, and AED.
The introduction of Global Retail Services to Crypto.com further boosts their string of accomplishments. In April 2024, the company received complete operational authorization from the Virtual Assets Regulatory Authority (VARA), enabling fiat transactions in the UAE and launching the Crypto.com Exchange for institutional investors. Moreover, the company sealed an endorsement deal with the UEFA Champions League in August, enhancing its brand presence. Additionally, Crypto.com has partnered with PayPal for US users, simplifying cryptocurrency transfers.
As a crypto investor, I’m thrilled about this strategic move that underscores the UAE’s growing role as a digital asset hub. With its robust regulatory framework and strong banking ties, Crypto.com seems poised to shape the future of global retail cryptocurrency services.
Read More
- Discovering the Infinite Power: The Abiotic Factor that Could Change Everything
- BONE PREDICTION. BONE cryptocurrency
- Uncovering the Mystery of Red King Players in Clash Royale – What Reddit Users Have to Say
- The Last Epoch Dilemma: Confronting the Gold Dupe Crisis
- Finding Resources in Palworld: Tips from the Community
- UFO PREDICTION. UFO cryptocurrency
- AAVE PREDICTION. AAVE cryptocurrency
- Skull and Bones: Navigating the Quest for Extra Teeth in the Game
- Gaming News: Like a Dragon: Infinite Wealth’s Dondoko Island Takes Expansion to New Heights
- The 10 Best Movies of 2024 (So Far)
2024-08-29 19:27