Cryptocurrency exchange Crypto.com has entered into a partnership with global financial technology firm, Circle, to enable US dollar deposits/withdrawals across more than 30 countries in the world.

The collaboration has now enabled users of Crypto.com to transfer USD from their bank accounts to the platform and receive USDC at an equivalent ratio.

However, users need to use a unique provided by Circle to transfer their USD funds. The partnership also gives Circle the role of processing, storing, and conversion of USD to USDC. After the conversion users will be able to receive their funds in their wallets within three business days.

According to Circle, the move will accelerate the world’s push for increased cryptocurrency adoption.

Commitment to work with best practices

Co-founder and chief executive officer of Circle, Kris Marszalek, commented o the development.

“Historically, transferring fiat into and out of crypto platforms has been an arduous process,” he stated.

Marszalek added that the collaboration shows its commitment to work with leaders in the industry. He reiterated that the company wants to show commitment to the working of best practices.

He also stated that the company wants to work with the best to offer easy, reliable, and safe money transfer solutions to its users all over the world. However, the partnership only allows money transfers for the fiat deposit at the moment.

Rapid expansion ongoing

Crypto.com is very busy in the market at the moment. The company has continued its streamlining and expansion process. Last year, the crypto exchange received an operational license from the Australian Financial Services after the acquisition of The Card Group Pty Ltd. Recently, it received a license in Malta to operate as a provider of Virtual Financial Asset.