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Crypto.com Taps Silvergate to Attract Institutional Market

Crypto.com Taps Silvergate to Attract Institutional Market

Institutions can now switch funds to and from Crypto.com for free.

Crypto.com is working with Silvergate to introduce fiat deposits and withdrawals for its institutional prospects.

Crypto.com Onboards Institutions

Crypto.com is making it more uncomplicated for institutions to enter crypto.

The alternate announced a brand original partnership with monetary infrastructure alternate choices provider Silvergate Tuesday, enabling institutions to deposit and withdraw U.S. dollars funds from their bank accounts. 

Crypto.com’s prospects will now indulge in entry to the Silvergate Exchange Network, a advance-right-time payments platform that lets users switch U.S. dollars at any time for free. The original feature will be on hand to institutional prospects in all the alternate’s on hand markets.

Kris Marszalek, the co-founder and CEO of Crypto.com, said of the partnership: 

“Silvergate’s merchandise and products and services bridge the gap from the historical monetary world to the crypto world, which helps our mission to ‘bustle the arena’s transition to cryptocurrency.’ We behold forward to extending the service to extra prospects.”

The Silvergate partnership is in actual fact the most modern in a protracted checklist of traits as Crypto.com eyes mainstream adoption. In October, the company kicked off a $100 million marketing campaign that featured the Oscar-a success actor Matt Damon and the tagline “Fortune Favours the Intrepid.” The company additionally announced it had signed a $700 million deal to diagram naming rights to the Staples Heart, the dwelling venue of both the LA Lakers and LA Kings. It’s dwelling to be renamed the Crypto.com Arena for the following 20 years. 

Final week, meanwhile, Crypto.com became the predominant alternate to successfully entire a Provider Group Administration (SOC) 2 Audit, declaring that Crypto.com’s security practices, policies, and procedures meet all SOC 2 requirements. The a success SOC 2 audit may perchance well presumably invent investing in cryptocurrencies via Crypto.com extra appealing for institutions. Additionally, this day’s Silvergate partnership will indulge in to invent onboarding more uncomplicated, additional striking off limitations for institutional cryptocurrency adoption. 

Disclosure: At the time of writing this selection, the author owned BTC, ETH, and a few other cryptocurrencies. 

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