- Crypto.com expanded its global USD Bank Transfers to over 60 countries
- Users in the 60+ countries can transfer USD from their bank accounts and receive USDC
The crypto exchange Crypto.com expanded its global USD Bank Transfers to over 60 countries.
The firm published the news today on Twitter and also on its blog. According to Crypto.com, they are excited to announce the extension of global USD Bank Transfers to 37 new jurisdictions in the Crypto.com App. This includes Argentina, Mexico, U.A.E, Thailand, the Philippines, and India.
Global USD Bank Transfers expand to new 37 countries 🌏including Argentina, Mexico, U.A.E, Thailand, Philippines and India
💵Transfer USD from your bank account
📲Receive the funds in USDC (1:1) on the App and Exchange
Available in total of 60+ countries pic.twitter.com/LU4uhRmLTF
— Crypto.com (@cryptocom) August 24, 2021
The news comes a week after Crypto.com announced it has extended fiat deposits and withdrawals for institutional accounts. The firm teamed up with Circle in June.
This partnership lets institutional users in 60+ countries seamlessly transfer funds from the traditional financial world to the crypto world.
In addition to that, the firm said users in the 60+ countries can now conveniently transfer USD from their bank accounts. What is more, they can receive the funds in USD Coin (USDC) at a 1:1 ratio. Furthermore, both deposits and withdrawals are available. Crypto.com does not debit any fees for deposits.
Besides, Crypto.com Exchange users can also transfer U.S. Dollars from their bank account via SWIFT. Further, they will receive their funds in the USD Coin (USDC) stablecoin as mentioned above.
The company added that unfortunately, they can’t receive funds deposited from third-party payment processing firms, citing Wise Inc. as an example. Moreover, the team urges users to use only SWIFT to transfer funds from their bank account to their USDC Wallet.
Crypto.com also noted that users can add up to 3 bank accounts to their USDC Wallet. But warns users that each bank account has its unique code. So, using the wrong code will result in the rejection of the users’ deposit, and the unique code will be suspended.
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