Leading payments and cryptocurrency platform Crypto.com has entered into a partnership with Xfers. Crypto.com announced the partnership on Wednesday at the Singapore Fintech Festival. Xfers is a renowned Singapore-based payment processing company, and through this alliance, it will allow Crypto.com users to purchase and sell crypto in SGD by December 2019.
As a result of this partnership, now Crypto.com users can immediately purchase crypto that may include BTC, LTC, ETH, XRP, CRO, MCO in SGD. The partnership seeks to simplify the sale and purchase of cryptocurrencies with fiat currencies and boost the adoption of cryptocurrencies in Singapore.
According to our review of crypto.com, Crypto.com is also planning to support StriatX, which has emerged as Xfer’s pilot stablecoin initiative, and XSGD, it’s Singapore Dollar-backed stablecoin. Apart from this, Crypto.com also strives to provide XSGD as part of Crypto.com Pay, its mobile payment solution that allows immediate and zero fees settlement between customers and dealers.
Tianwei Liu, Co-founder, and CEO of Xfers asserted that alliance with Crypto.com is vital to push our goal of establishing an open payment infrastructure for the region.
Meanwhile, Kris Marszalek, Co-founder, and CEO of Crypto.com said, that partnership will allow crypto purchase in SGD and on the key stablecoin initiatives covering StraitsX and XSGD.
Crypto.com came into existence in the year 2016 and Xfers was founded in the year 2015.