Circle founder on new Crypto.com partnership: ‘this partnership with fuel crypto adoption’

Circle founder on new Crypto.com partnership: ‘this partnership with fuel crypto adoption’
фото показано с : invezz.com

2021-6-28 17:28

World-renowned crypto exchange Crypto.com launched a new partnership with peer-to-peer payments technology company Circle to enable deposits and withdrawals in US dollars. The service will be available in more than 30 countries worldwide according to a Crypto.com press release.  

Streamlined procedure

Circle’s role is to enable processing and storage of US dollars before converting the deposits at a 1:1 ratio into USDC (USDC/USD), one of the most lucrative stablecoins. Customers will get USDC in the Crypto.com exchange and app even though they will be making the deposits in fiat. It will take traders about three days to get funds in their accounts with the exchange. The only fiat deposit method allowed will be bank wire.  

Kris Marszalek, Co-Founder and CEO of Crypto.com, commented:

“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.”

According to Circle CEO, chair, and co-founder Jeremy Allaire, the partnership will “fuel crypto adoption” around the world. It’s another shining example of innovation tearing down barriers between the future of payments and traditional finance. Circle expresses optimism and confidence in the partnership with the crypto exchange, which boasts both a vast, dedicated, and diverse base of global users and an impressive track record.

Ongoing expansion

The exchange platform is aggressively streamlining and expanding its offerings. Recently, they obtained a Virtual Financial Asset license in Malta. Last year, Crypto.com acquired The Card Group Pty Ltd., gaining an Australian Financial Services license in the process. The exchange is also an in-principal member of Visa in Australia.

Those interested in the new deposit service can watch a video with step-by-step instructions on how to set up US dollar bank transfers, uploaded at Crypto.com’s official blog.

The post Circle founder on new Crypto.com partnership: ‘this partnership with fuel crypto adoption’ appeared first on Invezz.

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Источник: invezz.com

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