Crypto.com, the leading payments and cryptocurrency platform, has announced a partnership with Silvergate Bank, a US-based commercial bank for institutional investors.
The new partnership between Silvergate and Crypto.com will provide the institution’s institutional clients with access to a range of crypto-related services, including its cryptocurrency debit card, trading platform and wallet.
Crypto.com is one of the most popular digital wallets on the market with over 1 million customers. This partnership will be extremely beneficial to both parties involved because it will allow them to tap into this large customer base and provide crypto services that are tailored to their needs.
Following the distribution of its press release, Silvergate Corporation (a renowned American bank) announced that it would begin working with one of the most well-known cryptocurrency exchanges. As an outcome, institutional clients in the United States can now transfer US dollars with more ease. In addition, these transactions are completely free of charge.
Silvergate Bank is a U.S. based institution with $6.5 billion in assets and $1.7 billion in capital. The company offers a wide range of consumer banking products and services including mortgages, home equity loans, personal loans, credit cards, checking accounts and more.
According to Kris Marszalek, co-founder and CEO of CryptoCom, the firm decided to expand because clients expressed an increasing interest in this service. Aside from that, he regarded Silvergate as a financial institution that was a good match with his organisation’s mission.
Silvergate’s products and services connect the traditional financial world to the world of cryptocurrencies, enabling us to accelerate their adoption. We look forward to expanding our service to include additional clients.he said.
The trading platform is aiming to bring the benefits of cryptocurrency and blockchain technology to everyday consumers, businesses, and institutions by offering a user-friendly gateway into this exciting new world.
Crypto.com also released the “Cronos Mainnet Beta” earlier this month. The project’s objective is to bring decentralised apps into the Crypto.com ecosystem.
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