Crypto.com, a popular cryptocurrency exchange and financial services provider, has partnered with Standard Chartered, a leading international banking group, to launch a new fiat wallet service specifically for users in the United Arab Emirates (UAE). The service, known as Standard Chartered Neo, allows users to buy, sell, and hold the UAE Dirham (AED) in a secure and regulated digital wallet.
With this partnership, users in the UAE can now seamlessly convert their AED into cryptocurrency and vice versa, and store their digital assets in a regulated and secure environment. The move aims to increase financial inclusion and provide more options for users to invest in the digital assets market. The partnership also highlights the growing importance of digital currencies in the financial landscape, as well as the need for regulated and secure frameworks to support their use.
The partnership is expected to benefit both entities, as Crypto.com expands its reach in the region and Standard Chartered enhances its suite of digital banking services. The launch of the AED fiat wallet is a significant step forward in the development of the cryptocurrency market in the UAE, and is likely to attract more investors and entrepreneurs to the region.