As the running year is coming to a close, the major cryptocurrency firms are doing whatever they can to outperform their competition. Among these major firms is Crypto.com that has been making constant developments in the particular sector.

Just recently, Crypto.com has made an announcement that is very promising for the entire cryptocurrency community. The exchange has made an announcement in regards to the provision of payment services through cryptocurrencies.

With the announcement, Crypto.com has shown that it is very serious when it comes to the expansion of its services in the crypto-sector. The firm has revealed that it is aiming to expand its off-ramp and on-ramp cryptocurrency exposure.

The exchange has announced that in order to expand its services in a particular space, it has partnered with Silvergate. Silvergate is a banking solution that has been chartered by the State of California, USA.

Crypto.com made the announcement of forming a partnership with Silvergate on Tuesday, November 30, 2021. In the announcement, the exchange revealed that its collaboration with Silvergate will allow the bank to cater to its institutional clients with cryptocurrencies.

Crypto.com announced that it will be working with Silvergate to allow the bank’s institutional clients to withdraw and deposit through their exchange in the form of USD.

In the announcement, the exchange has announced that the bank clients will be able to make deposits and withdrawals directly through the exchange. Whether the clients are making sending or receiving funds in USD between the exchange and the bank, they won’t be charged any fees.

Crypto.com has announced that it worked with Silvergate for the development of the Silvergate Exchange Network. It is a payments platform that lets the users carry out instant deposits and withdrawals for the USD. The users are not bound to any time or window, in which they have to make the deposits or withdrawals.

They can carry out the deposits and withdrawals at any given time of the day and be amazed at high fast the transactions are processed. One of the most exciting aspects of the platform is the accessibility it grants to the users.

Through the feature, the users not only get to make transactions between Silvergate and Crypto.com, but they can also do it in bank/exchange supported markets.

Kris Marszalek, the founder and CEO of Crypto.com talked about the introduction of the new feature. He revealed that the reason behind forming the partnership with Silvergate was that it was highly needed.

Its users and investors were demanding for such a facility and feature. Therefore, they started exploring the market and found that Silvergate was also aiming to form a partnership with a cryptocurrency-related firm. With the launch of the new feature, they will be able to offer a tremendous amount of help and support to their users.