Crypto.com has announced that it is launching its global retail services from its regional hub in Dubai. This expansion is backed by Standard Chartered and Dubai’s Virtual Assets Regulatory Authority (VARA), which provides rules to ensure a safe environment for digital assets.
The new services will let users of the Crypto.com app in over 90 countries easily deposit and withdraw funds. Initially, these features will be available to users in the UAE, where they can buy, sell, and trade more than 250 cryptocurrencies through the app.
After this first phase, Crypto.com plans to gradually offer these services to customers worldwide, making cryptocurrency transactions smoother and more useful.
Eric Anziani, President and COO of Crypto.com, said that the partnership with Standard Chartered is a key achievement for the company. “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, CEO of Standard Chartered in the UAE, said that this collaboration fits with the UAE’s goals of promoting innovation and diversifying the economy. The partnership aims to improve the functionality and accessibility of Crypto.com’s retail services, helping the UAE become a major hub for digital assets.
Milestones of Crypto.com
Crypto.com is a cryptocurrency platform that offers a wide range of services and products to its users. The platform consists of the Crypto.com App and the Crypto.com Exchange, each with its unique features and functionalities.
The App is a platform that allows users to buy, sell, and trade cryptocurrencies. It offers a wide range of features, including the ability to manage multiple cryptocurrencies, make purchases with a Crypto.com Visa card, and earn rewards through various programs.
The Crypto.com Exchange, on the other hand, is a trading platform specifically designed for more experienced traders, including institutional investors. It provides advanced tools for trading a variety of cryptocurrencies with high liquidity, low fees, and enhanced security features.
This year, Crypto.com has reached several important milestones, including surpassing 100 million users worldwide. This growth was driven by successful marketing efforts and partnerships with high-profile events like the NBA and NHL playoffs at the Crypto.com Arena, and the Formula 1 Crypto.com Miami Grand Prix.
In May 2024, Crypto.com received a license from Dubai’s Virtual Assets Regulatory Authority, allowing it to fully engage in institutional crypto trading. This was a key move in establishing its regional branch, CRO DAX Middle East FZE, which had already secured a Virtual Asset Service Provider license.
The company also launched a specialized trading platform for users in Korea, partnered with Brazil’s BTG Pactual in February 2024 to enhance banking services in Latin America, and continued to bolster its regulatory compliance by obtaining licenses in various countries, including the Netherlands, Spain, France, and the UK.
Standard Chartered is a prominent global financial services provider headquartered in London, UK. It offers a comprehensive range of banking services, including personal banking, wholesale banking, private banking, and SME banking. The bank’s product portfolio encompasses savings and current accounts, loans, credit and debit cards, investment products, and insurance services.
The partnership with Crypto.com will allow users in Dubai to access its banking solutions which enable nearly instant processing of deposits and withdrawals in major currencies like USD, EUR, and AED through the Crypto.com app.
