Crypto.com Teams Up with Global Fintech Circle to Offer USD Deposits and Withdrawals in 30 Countries

Crypto.com revealed on Monday (June 28, 2021) that they are teaming up with global Fintech firm Circle, in order to offer USD deposits and withdrawals to more than 30 different countries.

Crypto.com clients may now transfer USD from their bank accounts and get USD Coin (USDC) at a 1:1 ratio in the Crypto.com App and Exchange.

As explained in the announcement:

“When making deposits, users simply need to wire transfer their USD funds with a unique code provided by Circle, and Circle will take care of the processing, storage, and USD-to-USDC conversion. Users will then receive their funds in their Crypto Wallet within three business days.”

This partnership between Crypto.com and Circle allows users in over 30 countries to “seamlessly” transfer funds from the traditional financial world “to the crypto world, further supporting Crypto.com’s mission to accelerate the world’s transition to cryptocurrency.”

Kris Marszalek, Co-Founder and CEO at Crypto.com, stated:

“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.”

Jeremy Allaire, Co-founder, CEO and Chairman of Circle, remarked:

“This partnership will fuel crypto adoption globally and is another example of how innovators continue to break down barriers between traditional finance and the future of payments. We are thrilled to partner with Crypto.com, which has an impressive track record of success and a large, diverse, and dedicated global user base.” 

Established in 2016, Crypto.com currently serves more than 10 million clients with the world’s “fastest-growing” crypto app, along with the Crypto.com Visa Card — the “world’s largest crypto card program — the Crypto.com Exchange and Crypto.com DeFi Wallet.”

Recently launched, Crypto.com NFT is described as a high-quality platform for collecting and trading NFTs, “carefully curated from the worlds of art, design, entertainment and sports.”

As covered, Crypto.com is built on “a solid foundation of security, privacy and compliance and is the first cryptocurrency company in the world to have ISO/IEC 27701:2019, CCSS Level 3, ISO27001:2013 and PCI:DSS 3.2.1, Level 1 compliance, and independently assessed at Tier 4, the highest level for both NIST Cybersecurity and Privacy Frameworks.”

Crypto.com maintains head offices in Hong Kong with “a 1,000+ strong team.”

As previously reported, Circle is a global Fintech that allows companies or businesses to harness the power of stablecoins and public blockchains “for payments, commerce and financial applications worldwide.”

Circle’s platform has supported more than 100 million transactions valued at billions of dollars, with almost 10 million retail customers, “over a thousand businesses, while storing and securing more than $5 billion in digital currency assets.”

Circle is also a principal developer of USD Coin (USDC), which along with Coinbase and the Centre Consortium “oversees the standards and protocol for what has become the fastest growing, regulated, fully-reserved stablecoin.”

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