Cryptocurrency payments and wallet platform Crypto.com, announced today a new partnership with Xfers, a Singapore-based payment processing gateway. Now, Crypto.com users will be able to instantly buy cryptocurrencies (including BTC, ETH, LTC, XRP, MCO, CRO) in SGD.
Crypto.com also plans to support StraitsX, Xfers’ pilot stablecoin initiative, and XSGD, its Singapore Dollar-backed stablecoin. Crypto.com will offer XSGD as part of Crypto.com Pay, its mobile payment solution enabling instant and zero fees settlement between customers and merchants.
“Partnering with a leading platform such as Crypto.com is essential to driving our vision of building an open payments infrastructure for the region. This combined pilot to adopt XSGD for MCO Card top-up and for Crypto.com spend adds to our strong foundation for the initiative, as StraitsX aims to be the common ledger for digital assets and payments- enabling transparency for payments.”
– Tianwei Liu, Co-founder and CEO of Xfers
By facilitating the purchase and selling of cryptocurrencies with fiat currencies, the partnership aims to accelerate the adoption of cryptocurrencies in Singapore.
“We are pleased to partner with Xfers first to enable crypto purchases in SGD and then on the strategic stablecoin initiatives surrounding StraitsX and XSGD. Both solutions will increase the utility of the Crypto.com platform for our Singapore community.”
– Kris Marszalek, Co-founder and CEO of Crypto.com