USD Bank Transfers are now available for institutional accounts
Today, Crypto.com announced it has launched fiat deposits and withdrawals for institutional accounts via its Circle partnership, which was announced in June. This partnership enables institutional users to seamlessly transfer funds from the traditional financial world to the crypto world. Institutional users can transfer USD from their bank accounts and receive USD Coin (USDC) at a 1:1 ratio in the Crypto.com Exchange. Crypto.com does not charge any fees for deposits.
When making deposits, Institutional users simply need to wire transfer their USD funds with a unique code provided by Circle, and Circle will take care of the processing, storage, and USD-to-USDC conversion. They will then receive their funds in their Crypto Wallet within three business days.
The Crypto.com Exchange features the fastest matching engine in the industry, supporting 2.7m transactions per second, ultra-low core latency of 50 microseconds, and 5ms end-to-end for consumers. In addition, Crypto.com Exchange is powered by CRO, and features deep liquidity, low fees and best execution prices.
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- Crypto.com does not charge fees for USDC deposits, but your bank may apply a processing fee. Please reach out to your banking institution for more information. A USD 25 SWIFT transfer fee will be applied to every withdrawal.