USD Bank Transfers are now available for institutional accounts in 60+ countries
Today, Crypto.com announced it has extended fiat deposits and withdrawals for institutional accounts via its Circle partnership, which was announced in June. This partnership enables institutional users in 60+ countries to seamlessly transfer funds from the traditional financial world to the crypto world. Institutional users can transfer USD from their bank accounts and receive USD Coin (USDC) at a 1:1 ratio in the Crypto.com Exchange. Crypto.com does not charge any fees for deposits.
Kris Marszalek, Co-founder and CEO of Crypto.com said,
“Our integration with Circle provides Institutional clients with a robust and stable USD fiat on and off ramp to the Crypto.com Exchange. With a wide coverage of this USD Wire capability across 60+ markets, it also enables us to increase our overall presence for institutional trading on a global level.”
When making deposits, Institutional users simply need to wire transfer their USD funds with a unique code provided by Circle, and Circle will take care of the processing, storage, and USD-to-USDC conversion. They will then receive their funds in their Crypto Wallet within three business days.
The Crypto.com Exchange features the fastest matching engine in the industry, supporting 2.7m transactions per second, ultra-low core latency of 50 microseconds, and 5ms end-to-end for consumers. In addition, Crypto.com Exchange is powered by CRO, and features deep liquidity, low fees and best execution prices.
Visit our Help Centre for the complete list of countries where USDC Bank Transfers are supported.