In collaboration with Standard Chartered, Crypto.com initiated its global retail services on August 29. The Crypto.com App enables users in more than 90 countries to access deposit and withdrawal facilities.
The regulatory framework established by Dubai’s Virtual Assets Regulatory Authority (VARA) facilitated the expansion.
The company asserts that the launch will improve the efficiency and utility of cryptocurrency transactions for millions of retail consumers worldwide.
Establishing a Secure Framework in Dubai: Is the Middle East Becoming a Crypto Hub?
Standard Chartered will offer banking solutions that enable processing deposits and withdrawals in major currencies, including USD, EUR, and AED, in near-real time.
The UAE’s National Agenda, which emphasizes innovation, economic diversification, and the establishment of a knowledge-based economy, is closely aligned with the collaboration.
The UAE’s vision of becoming a digital asset hub is bolstered by the Crypto.com collaboration, as noted by Rola Abu Manneh, CEO of Standard Chartered UAE. This collaboration provides state-of-the-art solutions that cater to customers’ changing requirements in the region and beyond.
The services will be implemented for clients in the United Arab Emirates (UAE) beginning next month. The app will provide these consumers with access to Crypto.com’s retail products.
Crypto.com will progressively broaden the provision of these services to a global audience following the UAE launch, ensuring that they have access to reliable financial infrastructure for deposits and withdrawals.
Crypto.com’s Global Retail Services in the Face of Stringent Compliance
Crypto.com’s retail services are being implemented after numerous company accomplishments.
After receiving complete operational approval from VARA, Crypto.com launched its exchange for institutional investors in April 2024.
The approval of this application was a critical stage in establishing Crypto.com’s regional hub in Dubai, a location renowned for its rigorous consumer protection regulations.
These regulations include mandatory improved advertisement clarity and secure licensing requirements for crypto entities.
Crypto.com has maintained its global presence in addition to its Dubai expansion.
The company recently became the first crypto platform to partner exclusively with the UEFA Champions League.
In addition, Crypto.com has enhanced its regulatory compliance by obtaining licenses in the Netherlands, Spain, France, and the UK, partnered with Brazil’s BTG Pactual to improve banking services in Latin America earlier last year, and launched a specialized trading platform in Korea.
