Crypto.com and Silvergate launch deposits and withdrawals in USD
- The partnership manifests in a further on/off ramp solution on the Crypto.com Exchange
- Institutional clients use Silvergate to transfer USD from their bank accounts to the exchange for free
- Silvergate Exchange Network processes payments in near real-time, 24/7/365
Crypto.com, the most dynamically developing exchange in the world, and leading financial infrastructure solution provider Silvergate are introducing USD deposits and withdrawals to institutional clients, Invezz learned from a press release.
Additional on/off ramp solution
The partnership manifests in a further on/off ramp solution on the Crypto.com Exchange. Institutional clients can use Silvergate to seamlessly transfer USD from their bank accounts to the exchange and vice versa at no charge.
Are you looking for fast-news, hot-tips and market analysis? Sign-up for the Invezz newsletter, today.
They will get access to the provider’s Exchange Network, a payment platform which processes payments in near real-time, which lets users send USD 24/7/365. This option will be available to institutional clients in all exchange markets.
Kris Marszalek, cofounder and CEO of Crypto.com, commented:
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, added:
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.
Founded in 2016, Crypto.com today serves over 10 million customers 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. Crypto.com NFT is the premier 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 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, as well as Service Organization Control (SOC) 2 compliance.