Crypto.com and Standard Chartered Bank partners; enables UAE residents to deposit and withdraw UAE dirhams against cryptocurrencies

Residents of the United Arab Emirates are now able to deposit and withdraw UAE dirhams against cryptocurrencies that they own. Through their partnership, Standard Chartered Bank and Crypto.com will be able to execute deposits and withdrawals on the cryptocurrency trading app in near-real-time processing for using US dollars, euros, and UAE dirhams.

At the moment, investors may convert cryptocurrency to fiat money using services provided by several other sites, such BitOasis and Binance.

Through the Crypto.com app, users in the UAE may now purchase, sell, and exchange over 250 different cryptocurrencies in addition to other retail items and services. This is happening at a time when there is an increase in the demand for cryptocurrencies among UAE citizens, who trade in virtual money.