Crypto.com Enhances Fiat Payment System with DBS Bank in Singapore

• Crypto.com partners with DBS Bank to enhance fiat payment options.
• Singapore users gain new SGD and USD deposit withdrawal methods.
• Enhanced payment channels aim to boost crypto adoption in Singapore.

According to Crypto.com, the platform has partnered with DBS Bank, Southeast Asia’s largest bank by assets, to strengthen its fiat payment capabilities. This collaboration underscores the company’s commitment to providing secure, regulated services under the Monetary Authority of Singapore’s (MAS) framework.

With this partnership, Crypto.com users in Singapore will now have additional options to deposit SGD and USD, making it easier for customers to interact with the platform’s services.

The integration of DBS Bank’s systems will enable seamless transfers of SGD and USD to and from the Crypto.com App, enhancing the overall user experience. Furthermore, DBS will provide Crypto.com with the ability to create unique virtual accounts for its users, facilitating faster and more efficient transactions.

Also Read: RLUSD Marks Major Milestones in Its First Year, Solidifying Position as a Leading USD Stablecoin

As a part of its strategy, Crypto.com continues to diversify its banking partnerships in Singapore. Along with the new partnership with DBS Bank, Crypto.com also has an existing relationship with Standard Chartered Bank, giving the platform access to an extensive banking infrastructure. This dual partnership significantly expands the fiat payment options available to Crypto.com customers in the region.

Crypto.com’s EVP of Financial Services, Karl Mohan, emphasized that the introduction of these new deposit and withdrawal options highlights the company’s focus on offering secure and regulated fiat solutions. The goal is to simplify the process for users, providing a more accessible and reliable way to engage with the platform’s crypto offerings.

Strengthening Payment Channels for Greater Accessibility

By reinforcing its payment infrastructure, Crypto.com aims to provide users in Singapore with multiple channels for depositing and withdrawing funds. This move aligns with the company’s broader strategy of boosting crypto adoption in the region. Additionally, it ensures that the platform can offer users greater flexibility when managing their accounts.

According to Crypto.com’s General Manager for Singapore, Chin Tah Ang, the partnership with DBS Bank marks a crucial step in improving accessibility and functionality for retail users. The new payment rails not only align with MAS regulations but also provide customers with an easier way to interact with Crypto.com’s services.

With the integration of these enhanced payment capabilities, Crypto.com continues to solidify its position in Singapore’s growing cryptocurrency market. As the platform enhances its service offerings, it sets the stage for a smoother, more secure crypto experience for local users.

Also Read: Binance Shifts Focus on U.S. Expansion Following Trump’s Pardon for Changpeng Zhao

The post Crypto.com Enhances Fiat Payment System with DBS Bank in Singapore appeared first on 36Crypto.