Crypto.com has strengthened fiat payments by adding SGD and USD deposit and withdrawal rails via DBS.
Crypto.com has strengthened its fiat payment capabilities in Singapore through DBS Bank, adding new SGD and USD deposit and withdrawal rails for Singapore users, reflecting its strategy of working with established banks to deliver services under the Monetary Authority of Singapore’s framework.
Under the arrangement, DBS will facilitate additional banking rails and provide Crypto.com with the ability to create client money accounts, enabling transfers of SGD and USD to and from the Crypto.com App. Crypto.com said this is in addition to its existing banking partnership with Standard Chartered Bank.
“Introducing new deposit and withdrawal capabilities in Singapore underscores our commitment to offering secure and regulated fiat payment solutions,” said Karl Mohan, EVP, Financial Services, General Manager International of Crypto.com. “This will enhance the Crypto.com App experience for Singapore customers, makes it easier for them to interact with our products and services and is another important step in accelerating crypto adoption across the region.”
“Singapore is our headquarters and a critical hub for our growth strategy. Working with the country’s largest bank, DBS, allows us to expand our provision of seamless SGD and USD transfers for our users,” said Chin Tah Ang, General Manager Singapore of Crypto.com. “Deposits and withdrawals are already supported today, but we are proud to add greater accessibility and functionality to our retail services, in line with MAS regulations.”
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