Crypto.com has enhanced its fiat payment capabilities in Singapore through a partnership with DBS, the largest bank in Southeast Asia, the company announced Thursday.

The collaboration allows Crypto.com users in Singapore to deposit and withdraw SGD and USD through unique virtual accounts, improving the ease and speed of transactions under the regulatory framework of the Monetary Authority of Singapore.

According to Karl Mohan, EVP of Financial Services at Crypto.com, the new deposit and withdrawal capabilities are designed to strengthen its regulated fiat payment offering, simplify access to its products and services for local users, and advance crypto adoption across Asia.

“Singapore is our headquarters and a critical hub for our growth strategy. Working with the country’s largest bank, DBS, allows us to expand our provision of seamless SGD and USD transfers for our users,” noted Chin Tah Ang, General Manager Singapore at Crypto.com.