Over the past few years, the cryptocurrency industry has welcomed several traditional finance institutions. An array of banks has collaborated with prominent firms in the market. More recently, Crypto.com revealed that it has entered into a partnership with Deutsche Bank. The Singapore-based cryptocurrency firm will reportedly employ Deutsche’s corporate banking services.
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Diving Deep Into This Partnership
According to its press release, the duo intends to fortify the TradFi-digital asset bridge through this collaboration. The bank will help provide banking services to Crypto.com customers in regions like Australia, Hong Kong, and Singapore and eventually deliver banking support for the cryptocurrency exchange.
This alliance will strengthen Crypto.com’s daily operations in the rapidly expanding cryptocurrency ecosystem and reaffirm its dedication to security, compliance, and scalability.
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Speaking about the latest partnership, Karl Mohan, General Manager of APAC and MEA and Global Head of Banking Partnerships for Crypto.com, said,
“This is a momentous relationship for us and further highlights our commitment to security and compliance. Teaming up with one of the world’s leading financial services providers further cements our, already strong, presence globally and we are excited to build on this with the support of Deutsche Bank.”
It should be noted that Deutsche Bank is the top bank in Germany, with a global network and solid European roots. As a result, the latest collaboration is certainly prominent for the cryptocurrency firm.
Is Crypto.com On An Expansion Spree?
While Crypto.com’s joining forces with Deutsche Bank is certainly a major advancement, the exchange seems to be on a spree. The firm recently partnered with Mastercard. In addition, Triple-A and Crypto.com teamed up just last month to make cryptocurrency payments easier for consumers and businesses everywhere.
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Crypto.com users, starting in Singapore, were able to purchase digital assets straight from their wallets at leading e-commerce companies in sectors like gaming, fashion, and travel.
