- Crypto.com adds DBS banking rails, expanding SGD and USD deposit and withdrawal access in Singapore.
- Client money accounts via DBS support faster fiat transfers alongside existing Standard Chartered channels.
- Expansion follows Crypto.com–DMCC agreement to explore regulated blockchain use in global commodities.
Crypto.com has expanded its fiat payment network in Singapore through a strengthened banking arrangement with DBS Bank, the country’s largest lender by assets.
The collaboration opens new, direct banking rails for the exchange, allowing users to deposit and withdraw Singapore Dollars (SGD) and U.S. Dollars (USD) with minimal friction. This new channel supplements existing payment options and is intended to broaden access to fiat transfers on the Crypto.com App.
Related: Crypto.com Launches Sports Prediction Service in 16 US States
The ‘Client Money’ Upgrade
Under the updated arrangement, DBS will also provide Crypto.com with the ability to establish client money accounts.
These accounts enable faster transfers of SGD and USD between user bank accounts and the Crypto.com platform. The company stated that deposits and withdrawals are already supported, but the additional infrastructure increases functionality and accessibility for retail users.
The DBS partnership operates in conjunction with Crypto.com’s existing banking relationship with Standard Chartered Bank. With multiple banking partners in place, the exchange now provides additional fiat channels for Singapore-based users.
The Singapore banking expansion follows Crypto.com’s earlier partnership with Dubai Multi Commodities Centre (DMCC). Under a memorandum of understanding, the two organizations agreed to explore blockchain-based applications across global commodities markets.
The collaboration focuses on assessing distributed ledger technology for commodities financing, trading, and settlement. Target sectors include precious metals, diamonds, energy, and agricultural products.
The agreement also allows for the possible listing of tokenized commodities on Crypto.com, subject to regulatory approval and listing requirements. The DMCC initiative builds on Dubai’s broader regulated approach to digital assets, including prior coordination with the Virtual Assets Regulatory Authority (VARA).
Related: DMCC and Crypto.com Sign a Dubai MoU on Tokenized Commodities
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Source: https://coinedition.com/crypto-com-adds-dbs-bank-as-fiat-partner-in-singapore/
