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Deutsche Bank has entered into a corporate banking partnership with Crypto.com, providing services across Singapore, Australia, and Hong Kong, with plans for expanded coverage in the future.
The collaboration aims to bolster Crypto.com’s corporate banking capabilities by improving operational efficiency and establishing a robust financial infrastructure in these regions.
This partnership with a globally renowned financial institution comes on the heels of Crypto.com obtaining a principal license from Mastercard, enabling the issuance of cards on the Mastercard network.
Karl Mohan, General Manager for APAC and MEA and Global Head of Banking Partnerships at Crypto.com, expressed enthusiasm about the partnership, stating, “Teaming up with one of the world’s leading financial services providers further cements our already strong global presence, and we are excited to build on this with the support of Deutsche Bank.”
The partnership reflects a strategic step for Crypto.com as it navigates a challenging regulatory environment. In October, Crypto.com filed a lawsuit against the Securities and Exchange Commission (SEC) in response to a Wells Notice warning of potential enforcement action.
Despite regulatory hurdles, the cryptocurrency sector has gained momentum in recent months. Following Donald Trump’s victory in the U.S. presidential election, cryptocurrency prices surged. The sector has been buoyed by the administration’s positive stance, highlighted by Trump’s appointment of former PayPal COO David Sacks as the “White House AI and Crypto Czar.”
This alliance between Deutsche Bank and Crypto.com underscores the increasing convergence of traditional banking and the cryptocurrency ecosystem, marking a significant milestone in the sector’s ongoing evolution.
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