Crypto.com Exchange Extends Fiat Deposits and Withdrawals for Institutions
Hong Kong, Hong Kong, 18th August, 2021,
USD Bank Transfers are now available for institutional accounts in 60+ countries
Today, Crypto.com announced it has extended fiat deposits and withdrawals for institutional accounts via its Circle partnership, which was announced in June. This partnership enables institutional users in 60+ countries to seamlessly transfer funds from the traditional financial world to the crypto world. Institutional users can transfer USD from their bank accounts and receive USD Coin (USDC) at a 1:1 ratio in the Crypto.com Exchange. Crypto.com does not charge any fees for deposits.
Kris Marszalek, Co-founder and CEO of Crypto.com said, “Our integration with Circle provides Institutional clients with a robust and stable USD fiat on and off ramp to the Crypto.com Exchange. With a wide coverage of this USD Wire capability across 60+ markets, it also enables us to increase our overall presence for institutional trading on a global level.”
When making deposits, Institutional users simply need to wire transfer their USD funds with a unique code provided by Circle, and Circle will take care of the processing, storage, and USD-to-USDC conversion. They will then receive their funds in their Crypto Wallet within three business days.
The Crypto.com Exchange features the fastest matching engine in the industry, supporting 2.7m transactions per second, ultra-low core latency of 50 microseconds, and 5ms end-to-end for consumers. In addition, Crypto.com Exchange is powered by CRO, and features deep liquidity, low fees and best execution prices.
Founded in 2016, Crypto.com today serves over 10 million customers with the world’s fastest growing crypto app, along with the Crypto.com Visa Card — the world’s largest crypto card program — the Crypto.com Exchange and Crypto.com DeFi Wallet. Recently launched, Crypto.com NFT is the premier platform for collecting and trading NFTs, carefully curated from the worlds of art, design, entertainment and sports.
Crypto.com is built on a solid foundation of security, privacy and compliance and is the first cryptocurrency company in the world to have ISO/IEC 27701:2019, CCSS Level 3, ISO27001:2013 and PCI:DSS 3.2.1, Level 1 compliance, and independently assessed at Tier 4, the highest level for both NIST Cybersecurity and Privacy Frameworks.
Crypto.com is headquartered in Hong Kong with a 1,000+ strong team. Find out more by visiting https://crypto.com
For press inquiries: [email protected]
Circle is a global financial technology firm that enables businesses of all sizes to harness the power of stablecoins and public blockchains for payments, commerce and financial applications worldwide. Circle’s platform has supported over 100 million transactions worth tens of billions of dollars, with nearly 10 million retail customers, over a thousand businesses, while storing and securing more than $5 billion in digital currency assets. Circle is also a principal developer of USD Coin (USDC), which together with Coinbase and the Centre Consortium oversees the standards and protocol for what has become the fastest growing, regulated, fully-reserved stablecoin. USDC now stands at a $3 billion market cap and is adding nearly $200 million net new digital dollars in circulation every week. Today, Circle’s transactional services, business accounts, and platform APIs are giving rise to a new generation of financial services and commerce applications that hold the promise of raising global economic prosperity for all through programmable internet commerce. Learn more at https://circle.com