Crypto.com Exchange has announced that it’s working with Silvergate, the provider of financial infrastructure solutions to the virtual currency industry, in order to introduce USD deposits and withdrawals to its institutional clients.
As mentioned in an update shared with CI, this integration is “an additional on/off-ramp solution on the Crypto.com Exchange.”
Through Silvergate, institutional clients are able to easily transfer USD from their bank accounts to the exchange and vice versa, “for free.” Clients will now have access to the Silvergate Exchange Network (SEN), which is “a near real-time payments platform that enables users to send U.S. dollars 24 hours a day, 7 days a week, 365 days a year.”
The feature will be “available to institutional clients in all exchange available markets.”
Kris Marszalek, Co-Founder and CEO of Crypto.com stated:
“We are excited to work with Silvergate to provide an additional fiat on/off ramp solution to our institutional clients. The solution is highly requested which will enable an even better trading experience in the Crypto.com Exchange. Silvergate’s products and services bridge the gap from the traditional financial world to the crypto world, which supports our mission to ‘accelerate the world’s transition to cryptocurrency.’ We look forward to extending the service to more customers.”
Alan Lane, CEO of Silvergate, remarked:
“We are pleased to welcome Crypto.com as a Silvergate customer and SEN participant. Their diverse and dedicated global user base and commitment to industry success helps to ensure further crypto adoption around the world.”
Established in 2016, Crypto.com currently serves more than 10 million customers with one of the fastest growing crypto apps, along with the Crypto.com Visa Card —one of the largest crypto card programs — the Crypto.com Exchange and Crypto.com DeFi Wallet.
As mentioned in a release, Crypto.com NFT is a new platform for collecting and trading NFTs, “carefully curated from the worlds of art, design, entertainment and sports.”
Crypto.com is built on a foundation of security, privacy and compliance and claims to be “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, as well as Service Organization Control (SOC) 2 compliance.”
With head offices in Singapore and more than 3,000 people in offices across the Americas, Europe and Asia, Crypto.com is focused on supporting the global transition to cryptocurrency.