Crypto.com collaborates with DBS to enhance fiat capabilities in Singapore

Singapore-based Crypto.com announced Thursday a strengthening of its fiat payment capabilities with DBS Bank, Singapore’s largest bank by assets. This highlights Crypto.com’s commitment to working with leading banks to deliver secure, regulated services under the Monetary Authority of Singapore’s (MAS) framework, the duo said in a statement. According to the statement, Crypto.com users in Singapore may now deposit SGD and USD through an additional set of banking rails facilitated by DBS, reinforcing the platform’s strategy of strengthening fiat payment channels to include multiple deposit and withdrawal options. In addition, DBS will provide Crypto.com with the ability to create client money accounts for its customers, enabling fast and simple transfers of SGD and USD to and from the Crypto.com App. This is in addition to an existing banking partnership with Standard Chartered Bank, giving Crypto.com unparalleled banking infrastructure in Singapore. “Introducing new deposit and withdrawal capabilities in Singapore underscores our commitment to offering secure and regulated fiat payment solutions, “This will enhance the Crypto.com App experience for Singapore customers, makes it easier for them to interact with our products and services and is another important step in accelerating crypto adoption across the region,” said Karl Mohan, EVP, Financial Services, General Manager International of Crypto.com. Chin Tah Ang, General Manager Singapore of Crypto.com, also said Singapore is their headquarters and a critical hub for their growth strategy. “Working with the country’s largest bank, DBS, allows us to expand our provision of seamless SGD and USD transfers for our users, “Deposits and withdrawals are already supported today, but we are proud to add greater accessibility and functionality to our retail services, in line with MAS regulations,” he added. Truth Social offers prediction markets via exclusive partnership with Crypto.com