Crypto.com Enables Institutions to Deposit and Withdraw via USD

Cryptocurrency exchange Crypto.com yesterday announced that it has launched fiat deposits and withdrawals for institutional accounts via its Circle partnership. 

According to the official press release, 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.

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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.

As Fazzaco reported earlier, Crypto.com has announced the appointment of Henrik Johansson​​ as its Global Head of Growth. Henrik brings with a proven track record of growing internet services, products and platforms through marketing, business development and partnerships.