Crypto.com and Xfers to Enable Cryptocurrency Purchases With SGD
Launch is scheduled for December.
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Crypto.com will offer its users the ability to buy and sell cryptocurrencies with the Singapore Dollar. This will be the primary result of a partnership with Singapore-based Xfers, announced today at the Singapore Fintech Festival.
Crypto.com users will be able to instantly buy and sell mainstream cryptocurrencies including BTC, ETH, LTC, XRP and its own MCO and CRO tokens.
An additional collaboration will see Crypto.com providing support for Xfers’ pilot stablecoin initiative StraitsX and the XSGD stablecoin. The Singapore Dollar-backed stablecoin will be introduced to Crypto.com Pay, a mobile payment solution for settlement between customers and merchants.
Tianwei Liu, Co-founder and CEO of Xfers commented on the partnership:
“Partnering with a leading platform such as Crypto.com is essential to driving our vision of building an open payments infrastructure for the region. This combined pilot to adopt XSGD for MCO Card top-up and for Crypto.com spend adds to our strong foundation for the initiative, as StraitsX aims to be the common ledger for digital assets and payments- enabling transparency for payments.”
Crypto.com is set to enlarge its recently celebrated base of one million users as Kris Marszalek, Co-founder and CEO of Crypto.com comments:
“We are pleased to partner with Xfers first to enable crypto purchases in SGD and then on the strategic stablecoin initiatives surrounding StraitsX and XSGD. Both solutions will increase the utility of the Crypto.com platform for our Singapore community.”