Singapore-based cryptocurrency exchange Crypto.com has announced a new partnership with Standard Chartered to expand its global fiat services. This collaboration aims to enhance access to major fiat currencies, including U.S. dollars, euros, and United Arab Emirates dirhams, through a new retail services business. The global retail services will be managed from Crypto.com’s regional hub in Dubai and will be available in 90 countries.
Eric Anziani, President and COO of Crypto.com, highlighted the significance of this partnership in the company’s global expansion strategy. “Not only is it a significant step forward in our global expansion plans, but it also enables our commitment to delivering a world-class customer experience whilst maintaining the highest levels of security and compliance,” Anziani stated in a press release on Thursday.
The new service will support “seamless” fiat deposits and withdrawals via the Crypto.com App. It is scheduled to launch next month, starting with customers in the UAE, and will gradually expand to other regions. Standard Chartered will provide the tailored banking and payment solutions necessary for this rollout.
Dubai has become a significant hub for cryptocurrency activity since the emirate introduced its Virtual Assets Regulatory Authority (VARA) regulatory framework in 2022. Crypto.com, established in 2016, was among the first exchanges to secure regulatory approval to operate in Dubai. The company has since established a regional hub and launched an institutionally-focused unit in the area.
“This collaboration closely aligns with the UAE’s National Agenda, which emphasizes innovation, economic diversification, and the growth of a knowledge-based economy,” said Rola Abu Manneh, Standard Chartered’s CEO for the UAE, Middle East, and Pakistan regions.
The partnership marks a strategic move for Crypto.com as it continues to expand its global reach and enhance its services in key markets.
