Cypto.com announced on January 8th that it will be focusing on its Banking pillar in 2025. One of the biggest crypto platforms, Crypto.com has promised to make the user experience better by diving into banking services.
The vision into the banking services comes at a time when Crypto.com has already ventured into traditional financial services by signing multiple partnerships.
What Will The Banking Pillar Services Include?
With the vision of expanding its banking services, Crypto.com aims to provide “More Cash Accounts Enhancements” for its users.
In this direction, two major steps that the bank has already taken are the rebranding and redesigning of every Fiat wallet to “Cash Accounts.”
Additionally, users in the UK and EU can quickly examine the information of their individual Cash Accounts.
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Crypto.com’s Previous Banking Service Promise
Crypto.com has previously promised that with the help of its most important benefits experience to date, the platform will provide its users with access to banking services from partner banks as well as credit card and equity services through the Crypto.com family of enterprises.
With a progressive benefit plan, “Level Up” will offer consumers the most extensive cryptocurrency and financial rewards under a single brand, Crypto.com.
Level Up will reward users for all of its current core product offerings as well as its impending forays into credit cards, stocks, and equity options, as well as partnerships with banks that will offer banking services like savings and deposit accounts.
Crypto.com’s Previous Banking Partnerships
Todays decision of enhancing the banking pillar comes as Crypto.com has already ventured and partnered heavily into the sector.
On December 10th, Crypto.com announced a new agreement with Deutsche Bank. Under this partnership, Deutsche Bank will provide corporate banking services for Crypto.com in Singapore, Australia, and Hong Kong. Interestingly, these places have a higher adoption for crypto services.
Also, Crypto.com previously had partnered with Visa, claiming that its Visa card scheme was accessible across all of Latin America.
Another major step in this direction was Crypto.com’s expansion in Islamic Banking. To offer digital assets to the Islamic community, Crypto.com had teamed up with the biggest Islamic bank in the United Arab Emirates.
Dubai Islamic Bank (DIB), the biggest Islamic bank in the United Arab Emirates and a world-renowned pioneer in Islamic banking and Crypto.com have inked a Memorandum of Understanding.
The MoU focuses on many key areas of collaboration, including facilitating bitcoin payments over DIB’s infrastructure, providing reward-based promotions to DIB’s clients, and promoting the Crypto.com Card and App through DIB’s channels.
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