Standard Chartered will provide Crypto.com with banking and payment solutions to enable users of the crypto platform to make deposits in US dollars, euros, and dirhams. The exchange’s clients will also be able to withdraw crypto assets in currencies through the Crypto.com app. Initially, these services will only be available to retail clients in the United Arab Emirates (UAE). In addition to fiat services, UAE users should be able to access Crypto.com’s products and services, and will also be able to trade all cryptocurrencies listed on the exchange, the trading platform’s team assured.
In the future, the exchange intends to open these services to users around the world. Crypto.com management clarified that it is cooperating with the Virtual Assets Regulatory Authority of Dubai (VARA).
In March, the Dutch Central Bank fined the Crypto.com exchange €2.85 million (around $3.1 million) for operating without registration. In April, Crypto.com had to postpone the launch of its trading platform in South Korea due to increased scrutiny from local regulators.
Source: Bits
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