- Crypto.com announced its partnership with Circle, a global fintech firm.
- Users of Crypto.com can now transfer USD from their bank accounts.
- Also, users can receive USD Coin at a 1:1 ratio in the Crypto.com App and Exchange.
Today, Crypto.com announced its partnership with Circle, a global fintech company, to introduce USD deposits and withdrawals globally. More specifically, this will be offered to more than 30 countries around the world.
With that said, users of Crypto.com can now transfer USD from their bank accounts. In addition, users can receive USD Coin (USDC) at a 1:1 ratio in the Crypto.com App and Exchange.
Of note, Circle helps businesses and developers harness the power of digital dollar stablecoins for payments and internet commerce worldwide. Circle is also the principal developer of USD Coin (USDC).
According to the announcement, users simply need to wire transfer their USD funds with a unique code provided by Circle. Then, Circle will take care of the processing, storage, and USD-to-USDC conversion. Wheres, users are expected to receive their funds in their respective crypto wallets within three business days.
Crypto.com CEO and Co-Founder Kris Marszalek explained,
“Historically, transferring fiat into and out of crypto platforms has been an arduous process. Our partnership with Circle is yet another example of our commitment to working with the best partners in the industry to provide safe, reliable, and easy money transfer solutions to our customers around the world.”
Furthermore, Jeremy Allaire, Circle’s CEO also expressed his excitement in this partnership saying that it will fuel crypto adoption globally. He believes that this partnership is another example of how innovators contribute to the future of payments.
Clearly, this partnership will enable users in over 30 countries to seamlessly transfer funds anywhere and anytime. Recently, Crypto.com also announced that it is now accepting BTC payments from any wallet. Without a doubt, it will help support Crypto.com’s mission to ‘accelerate the world’s transition to cryptocurrency’.