1 week ago
6
The companies indicated plans to expand their partnership to the United Kingdom and other European countries in the coming months.
2816 Total views
2 Total shares
Cryptocurrency exchange Crypto.com has announced a new partnership with Deutsche Bank to provide corporate banking services across Asian-Pacific markets, covering regions such as Singapore, Australia, and Hong Kong.
Deutsche Bank offers digital assets custody, fiat-to-crypto exchange, and cross-border trading services to crypto firms, among other banking services. The companies hinted at broadening their partnership to the United Kingdom and European countries in the coming months.
Crypto.com is based in Singapore and has been actively expanding its reach in the Asian-Pacific region. In November, the exchange acquired the Australian brokerage and trading company Fintek Securities, allowing the offer of traditional financial products to users in the country through a regulated platform.
In Hong Kong, Crypto.com is listed as ‘deemed to be licensed’ by the Securities and Futures Commission, as the regulator moves to issue permits to at least 11 digital asset firms with local operations.
The region is seeing strong growth in crypto adoption through 2024. According to a recent study by Henley & Partners, Singapore, Hong Kong, and the United Arab Emirates stand among global in global crypto adoption. Singapore secured the top position, attributed to its banking system, significant investments, and comprehensive regulations for digital assets companies.
Related: Deutsche Bank joins Singapore’s asset tokenization project
Crypto.com moves to TradiFi
While traditional financial firms expand services into digital assets, Crypto.com is taking a different approach by diversifying its business into traditional asset trading.
The company’s recently announced roadmap for 2025 features traditional product offerings such as stocks and derivatives trading, banking services yield on cash balances and credit card solutions.
In October, Crypto.com also acquired the US-regulated broker-dealer Watchdog Capital, broadening its services in the country to offer stocks and equity options to eligible traders.
Other crypto exchanges integrating with traditional services in the region include OKX. In November, OKX announced fiat deposits and withdrawals for customers in Singapore, just a few months after securing a local payment institution license and hiring a former regulator as the CEO of its subsidiary.
Related: Crypto.com, Standard Chartered partner for global fiat services
English (US) ·