Digital currency platform Crypto.com has enabled fiat withdrawal through bank transfer for 21 currencies, including USD, GBP, AUD, CAD, EUR, SGD, NOK, and SEK.
The platform now enables the users to sell digital currencies to their fiat wallet and move fiat funds from the wallet to their bank accounts.
Users with app version iOS 3.42/ Android 3.42 or higher can access the functionality.
“To activate fiat withdrawal, users are required to deposit the corresponding fiat currency via international bank transfer to Crypto.com once before Crypto.com can transfer funds to the same bank account,” the digital currency platform said.
Users do not have to pay fees for the fiat withdrawal, though receiving bank and intermediary bank(s) may charge fees.
The fees will differ based on the location of the recipient bank account.
Crypto.com developments in 2019
Last month, Crypto.com partnered with Singaporean payment processing gateway Xfers to enable users to trade crypto in Singaporean currency (SGD). This will allow users of the crypto platform to buy BTC, ETH, LTC, XRP, MCO and CRO, among others, in SGD.
In August, Crypto.com upgraded the platform with new features to enhance its security. In the same month, the digital currency platform also introduced a feature to make zero-fee crypto payments to friends and earn rewards.