Crypto.com said the partnership with Deutsche Bank “will build on the progress of its Mastercard card program and provide exchange customers with more ways to use crypto assets in real-world payment scenarios.” The cooperation is aimed at increasing the operational efficiency of the exchange and creating a seamless banking infrastructure.
Deutsche Bank will initially focus on supporting Crypto.com’s operations in the Arab Gulf countries, which include Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates.
In addition, Deutsche Bank will provide corporate banking services to the exchange and its clients in Singapore, Australia and Hong Kong. In other countries where Crypto.com is present, possible options for banking support from Deutsche Bank will be considered as the project develops.
In August, Singapore-based cryptocurrency exchange Crypto.com entered into an agreement with international bank Standard Chartered to provide fiat services to clients in the United Arab Emirates.
Source: Bits
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