Crypto.com to Offer Global Retail Services in 90 Countries

Fiat-to-cryptocurrency transactions have garnered significant attention in the crypto world, with much of the focus on the challenges of converting fiat currencies to crypto to help remove the spoke in the wheel of crypto adoption across the globe. To provide a lasting solution for crypto users, partnering with a traditional banking institution becomes a logical step.

In a move to enhance crypto adoption, Crypto.com announced partnership with Standard Chartered Bank to facilitate swift fiat transactions in over 90 countries, starting in the UAE. This partnership is expected to expand Crypto.com’s coverage, allowing transactions in USD, EUR, and U.A.E. dirhams.

Eric Anziani, President and Chief Operating Officer of Crypto.com, stated that this collaboration underscores the company’s commitment to becoming a global service provider, aiming to deliver a consistent customer experience worldwide. He also emphasized that the app’s services will be secured with robust security measures and will operate in full compliance with regulatory requirements.

Beginning in the United Arab Emirates, users will soon be able to enjoy seamless deposits and withdrawals of fiat currencies, facilitated by Standard Chartered Bank. The decision to base the service’s operational hub in Dubai is a strategic move by the Singapore-based crypto company to tap into global markets from a rapidly expanding economic hub. Moreover, the establishment of the Virtual Asset Regulatory Authority in 2022 by the UAE has spurred increased interest in crypto-related activities within the region.

As one of the first crypto institutions to secure a license to operate in the UAE, Crypto.com’s initiative is seen as a positive step, aligning with the UAE government’s vision to build a knowledge-driven and diversified economy.

Crypto.com and PayPal Collaboration

Already, Crypto.com has added support for PayPal. With the PayPal connection, the over 100 million users of the platform can now add PayPal as a payment option for their account funding. The initiative comes shortly after establishing the use of PayPal to top up the Crypto.com Visa Card, making the platform a choice for PayPal USD (PYUSD) exchange, and enabling Crypto.com Pay.

Crypto.com and UEFA Partnership

In a separate development, UEFA and Crypto.com announced that Crypto.com will be the first and exclusive global cryptocurrency platform partner of the UEFA Champions League. The collaboration makes Crypto.com serve as an official global sponsor of the UEFA Champions League.

Through the partnership, Crypto.com will assist UEFA in driving football engagement among crypto lovers with innovative adverts of different kinds to support the initiative. The partnership with the UEFA Champions League is a step towards creating supporter engagement across the world, said Steven Kalifowitz, Chief Marketing Officer at Crypto.com.