Cooperation with Deutsche Bank for Asian-Pacific markets
The cryptocurrency exchange Crypto.com has announced a new partnership with Deutsche Bank to offer banking services for companies in the Asian-Pacific markets. This includes regions such as Singapore, Australia and Hong Kong.
Deutsche Bank also offers crypto companies in addition to other banking services, the custody of digital assets, the exchange of Fiat in cryptocurrencies and cross -border trading services. The companies have indicated to expand their partnership to the United Kingdom and other European countries in the coming months.
Crypto.com is based in Singapore and has its range in the Asian-Pacific area be actively expanded. In November, the stock exchange acquired the Australian broker and trading company FinTek Securities, which means that users in this country can be offered traditional financial products via a regulated platform.
In Hong Kong, Crypto.com is licensed by the Securities and Futures Commission because the supervisory authority The granting of permits for at least 11 locally active companies for digital assets.
A strong growth of cryptocurrency use has been recorded in the region by 2024. According to a recent study by Henley & Partners, Singapore, Hong Kong and the United Arab Emirates are at the top of the global use of crypto. Singapore secured the top position, which is due to its banking system, significant investments and comprehensive regulations for companies in the field of digital assets.
Crypto.com changes to Tradifi
While traditional financial companies are expanding their services to digital assets, Crypto.com is pursuing a different approach by expanding its business to trade in traditional assets.
The company's recently announced timetable for 2025 includes traditional product offers such as trading in shares and derivatives, banking services based on cash credit, as well as credit card solutions.
In October acquired Crypto.com also the broker-dealer Watchdog Capital regulated in the USA and thus expanded its services in the USA with stocks and stock options for justified dealers.
OKX also works with traditional services in the region. In November, OKX announced Fiat deposits and withdrawals for customers in Singapore, just a few months after the company received a local license for payment institutes and a former regulatory officer when CEO had hired his subsidiary.
