Crypto.com, an exchange for major cryptocurrencies. Continues to expand on-ram and off-ramp solutions with new partnership with California-licensed Silvergate Bank
Crypto.com announced Tuesday that it is working with Silvergate to allow institutional clients to deposit and withdraw funds from the exchange using US Dollars (USD).
According to the announcement Bank transfers to and from Crypto.com are now available to institutional investors. With the help of Silvergate, institutional clients can transfer USD between their bank accounts and Crypto.com without fees.
This new feature is enabled through the Silvergate Exchange network, a payment platform that allows users to instantly send US dollars at any time of the day. This feature is available to institutional clients on all existing exchanges.
Kris Marszalek, Co-Founder and CEO of Crypto.com, said this new feature It has been “highly requested” and supports the company’s vision of accelerating the world’s digital currency transition. “We are excited to work with Silvergate to provide additional fiat opening/closing solutions to our institutional clients,” he added.
As previously reported, Crypto.com has worked with the USD Coin (USDC) stablecoin group to provide USD deposit and withdrawal services on the platform.
Crypto.com launched USD bank wire withdrawals for institutional clients in over 60 countries via Circle API in August. It previously partnered with Circle to enable USD deposits and USDC wire transfers for users in over 30 countries.
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