Crypto.com Partners with UAE's Largest Bank to Expand Middle East Business

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Global virtual asset exchange Crypto.com is strengthening its collaboration with the United Arab Emirates (UAE)'s largest bank to expand its business in the Middle East.

Crypto.com announced on the 30th that it has entered into a partnership with Dubai Islamic Bank (DIB). The signing ceremony of the Memorandum of Understanding (MOU) was held at DIB's headquarters located in the UAE. The ceremony was attended by Mohamed Al Hakim, Crypto.com's UAE Operations Manager, and Musabah Al Kaissi, DIB's Chief Digital Officer (CDO).

With this MOU, Crypto.com plans to enhance its cooperation with DIB in areas such as virtual asset payments, fiat currency charging, and the tokenization of physical assets. Crypto.com stated, "Through this collaboration, we aim to explore innovative payment solutions and untapped areas of the Islamic finance industry," adding that the partnership is "an important milestone in our journey to expand our business not only in the UAE but also in the Gulf Cooperation Council (GCC) region."