Crypto.com has enabled SGD and USD deposits and withdrawals for Singapore users through a new partnership with DBS Bank.
The addition introduces new banking rails that allow transfers in both currencies through DBS, complementing the platform’s existing banking partnership with Standard Chartered Bank.
Together, the arrangements expand Crypto.com’s local fiat infrastructure and provide users with multiple deposit and withdrawal options in Singapore.
Under the partnership, DBS will support the creation of client money accounts, enabling faster and simpler transfers of SGD and USD between users’ bank accounts and the Crypto.com app.
Singapore is Crypto.com’s headquarters and a key market for its regional operations.
“Introducing new deposit and withdrawal capabilities in Singapore underscores our commitment to offering secure and regulated fiat payment solutions.
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.”
said Karl Mohan, EVP, Financial Services, General Manager International of Crypto.com.
“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.
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.”
said Chin Tah Ang, General Manager Singapore of Crypto.com.
Featured image: Edited by Fintech News Singapore, based on image by smth.design via Freepik
