High-profile crypto exchange Crypto.com has reportedly made strides with the expansion of its crypto on-ram and off-ramp solutions, via a new alliance formed with the California state-chartered bank Silvergate.
Specifically, Crypto.com reportedly revealed its freshly formed collaboration with Silvergate, to roll out deposit and withdrawal features for its institutional customers using the U.S. dollar (USD).
Per the announcement, bank transfers to and from the Crypto.com exchange will be facilitated with the assistance from Silvergate, offering clients the ability to transfer USD between their bank accounts and Crypto.com free-of-charge.
The freshly rolled out functionality will reportedly be available via the Silvergate Exchange Network – a payments platform offering users the chance to send U.S. dollars at any time of the day in an immediate manner.
The functionality will be accessible to every client in all exchange available markets.
Crypto.com co-founder and current Head Kris Marszalek reportedly shared that the new functionality is “highly requested”, and will contribute significantly to the firm’s vision of fast-tracking the world’s pivot to cryptocurrency.
“We are excited to work with Silvergate to provide an additional fiat on/off ramp solution to our institutional clients,”
Previously, Crypto.com has reportedly been collaborating with the issuing entity of the USD Coin (USDC) – Circle – to offer USD deposits and withdrawals on its platform.
Crypto.com rolled out withdrawals via USD bank transfers catering to institutional clients throughout over 60 nations through Circle API in August.
