Crypto.com Launches Retail Services in over 90 Countries with Standard Chartered

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Hassan Shittu

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Hassan Shittu

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Hassan, a Cryptonews.com journalist with 6+ years of experience in Web3 journalism, brings deep knowledge across Crypto, Web3 Gaming, NFTs, and Play-to-Earn sectors. His work has appeared in...

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Last updated:

August 29, 2024 16:37 EDT

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Crypto.com launched its global retail services on August 29 in partnership with Standard Chartered. The service allows users in over 90 countries to access deposit and withdrawal facilities via the Crypto.com App.

The expansion was facilitated through the regulatory framework established by Dubai’s Virtual Assets Regulatory Authority (VARA).

The company claims that the launch will enhance the efficiency and utility of cryptocurrency transactions for millions of retail users worldwide.

Building a Secure Framework in Dubai: Is the Middle East Becoming The Hub for Crypto?

Standard Chartered will provide banking solutions that allow near-real-time processing of deposits and withdrawals in major currencies such as USD, EUR, and AED.

The collaboration aligns closely with the UAE’s National Agenda, which focuses on innovation, economic diversification, and the development of a knowledge-based economy.

Rola Abu Manneh, CEO of Standard Chartered UAE, noted that the Crypto.com collaboration supports the UAE’s vision of becoming a hub for digital assets by offering cutting-edge solutions that meet customers’ evolving needs in the region and beyond.

The services will be rolled out next month to customers in the United Arab Emirates (UAE). These customers will have access to Crypto.com’s retail products through the app.

Following the UAE launch, Crypto.com will gradually expand these services to a global audience, providing them with robust financial rails for deposits and withdrawals.

Crypto.com’s Global Retail Services Amid Tight Compliance

The rollout of Crypto.com’s retail services comes on the heels of several company achievements.

In April 2024, Crypto.com launched its exchange for institutional investors after receiving full operational approval from VARA.

This approval was a critical step in establishing Crypto.com’s regional hub in Dubai, a location known for its stringent consumer protection regulations, which include mandatory improved advertisement clarity and secure licensing requirements for crypto entities.

In addition to the Dubai expansion, Crypto.com has continued to enhance its presence globally.

The company recently became the first crypto platform to secure an exclusive partnership with the UEFA Champions League.

Additionally, Crypto.com has launched a specialized trading platform in Korea, partnered with Brazil’s BTG Pactual to improve banking services in Latin America earlier last year, and improved its regulatory compliance by obtaining licenses in the Netherlands, Spain, France, and the UK.