Crypto.com App Enables Users to Deposit and Withdraw via Arbitrum

Cryptocurrency exchange Crypto.com yesterday announced that its app has added support for deposits and withdrawals via Arbitrum network.

According to the official press release, users can transfer for UNI, LINK, SUSHI and WBTC via Abitrum in a faster, cheaper and safer manner.

Arbitrum is a Layer 2 protocol that uses a variation of Ethereum’s popular scaling solution known as “optimistic rollup”. It is designed by Offchain Labs to reduce the costs and latency of decentralized applications (dApps) for users and developers. Through a unique combination of incentives, network protocol design, and virtual machine architecture, Arbitrum smart contracts can improve speed, privacy and security while drastically reducing transaction fees.

​As Fazzaco reported earlier, Crypto.com has launched fiat deposits and withdrawals for institutional accounts​ via its Circle partnership. Institutional users can transfer USD from their bank accounts and receive USD Coin (USDC) at a 1:1 ratio in the Crypto.com Exchange.