Crypto exchange Crypto.com has announced that it will roll out AED Cash Accounts for its users in the United Arab Emirates. The crypto exchange is offering customers the ability to link their bank accounts in minutes, without requiring manual document uploads, and with no deposit fees.
The new service is expected to make it easier for users in the UAE to fund their accounts and carry out their crypto trading services without delay, using an automated verification system. According to the announcement, the development is open to both retail and institutional investors, as it allows them to enter the crypto market.
Crypto.com offers fast transfers
Crypto.com has also promised its users in the UAE fast transfers, adding another layer of convenience to their activities. The exchange competes with bank transfers, which take days to clear transactions. Moreover, UAE users will be able to access funds almost instantly. However, this is not the first time Crypto.com has made such an announcement.
In August of 2024, it announced it would be launching its global retail services across 90 countries out of Dubai, UAE. The crypto exchange partnered with Standard Chartered Bank to allow the deposit and withdrawal of crypto and fiat easily. In addition, Crypto.com in the UAE has been working to integrate its offering across the board.
The crypto exchange signed deals with Emarat Energy, Dubai Land Department, and Emirates Airlines to allow its customers to make crypto payments using the exchange’s services. Whether it’s trading or payments, the exchange is trying to spread its wings within the UAE. Earlier this year, Crypto.com appointed Mohammed Al Hakim, a UAE national, as president of its UAE operation for the company’s growth and diversity in the region.
Crypto.com is strongly moving forward in the UAE market, as it has done in the USA. The competition between crypto exchanges in the UAE is intensifying, with each one trying to offer unique services, with some partnering with banks to offer crypto trading rails embedded within the bank’s offering, like the deal between RAK Bank and BitPanda.
