crypto.com has officially launched its global retail services in over 90 countries through a strategic partnership with Standard Chartered. This move aims to enhance the efficiency and utility of cryptocurrency transactions for millions of retail users worldwide. The regulatory framework established by Dubai’s Virtual Assets Regulatory Authority (VARA) paved the way for this expansion, marking a significant step in the evolution of cryptocurrency adoption.
Building a Secure Framework in Dubai: Is the Middle East Becoming The Hub for crypto?
By collaborating with Standard Chartered, crypto.com can now offer near-real-time processing of deposits and withdrawals in major currencies such as USD, EUR, and AED. This aligns with the UAE’s National Agenda, emphasizing innovation, economic diversification, and knowledge-based economic development.
Rola Abu Manneh, CEO of Standard Chartered UAE, highlighted the importance of this collaboration in supporting the UAE's vision of becoming a digital assets hub. The partnership ensures that customers in the region and beyond have access to cutting-edge solutions that cater to their evolving needs.
Next month, customers in the United Arab Emirates (UAE) will gain access to crypto.com’s retail products through the app. The gradual global expansion of these services will provide a wider audience with robust financial rails for seamless deposits and withdrawals.
The launch of crypto.com’s retail services follows a series of notable achievements by the company. In April 2024, crypto.com successfully launched its exchange for institutional investors after securing full operational approval from VARA.
Establishing crypto.com’s regional hub in Dubai was a strategic move, considering the city’s reputation for strict consumer protection regulations. Mandatory requirements such as enhanced advertisement clarity and secure licensing for crypto entities further solidified crypto.com’s presence in the region.
In addition to the Dubai expansion, crypto.com has been actively enhancing its global footprint. The company recently made headlines by securing an exclusive partnership with the UEFA Champions League – a significant milestone in the crypto industry.
Furthermore, crypto.com’s initiatives extend beyond Dubai, with the launch of a specialized trading platform in Korea and a partnership with Brazil’s BTG Pactual to improve banking services in Latin America. The company has also focused on regulatory compliance by obtaining licenses in the Netherlands, Spain, France, and the UK.
Overall, crypto.com’s strategic partnerships and expansions reflect its commitment to driving innovation and accessibility in the cryptocurrency space. With a strong foothold in Dubai and a global vision for expansion, crypto.com is set to revolutionize the way retail users engage with digital assets worldwide.
