Crypto.com has introduced the option of direct bank funding to its wallet and card app. This was made known in a press release by Adrienne Wong, SVP, Head of Product, Crypto.com On the 4th of October 2018.
Crypto.com Wallet Funding With Bank Account
Wong noted in the press release that the attempt of the firm to bring the best in class, next-generation solutions to the cryptocurrency market, the firm now brings to the reach of crypto.com wallet users the option of funding their wallets through EUR bank transfers from accounts in the Single Euro Payments Area (SEPA).
In addition to the already available debit card and credit card means of wallet funding, users can now fund their crypto.com wallet through bank transfers. The bank transfer is free, making it more convenient for users to purchase cryptocurrency and top up the soon to be released MCO Visa Card.
Also, the addition of bank transfer or funding feature takes the crypto.com firm closer to its vision of accelerating the world’s transition to cryptocurrency, in which the firm aims at bridging the two world of the traditional financial sector and cryptocurrency.
Further, the firm noted that it plans to extend its reach to users beyond the European Economic Area. The members of EEA includes Austria, Belgium, Bulgaria, Croatia, Republic of Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Monaco, Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, Switzerland, and the United Kingdom.
This would expand the reach of the direct bank funding of the crypto.com wallet to countries outside European Union and the world at large as to facilitate its vision for the cryptocurrency.
About Crypto.com and IBAN Funding
International Bank Account Number, IBAN is an internationally agreed system of identifying bank accounts across national borders to facilitate transactions globally. It was initially adopted by European committee for banking standards and presently in use by 69 countries of the world.
IBAN will function with crypto.com’s wallet through assigning an IBAN account number to users of the crypto.com wallets. The IBAN can be used by countries in the Single Euro Payments Area.
With the IBAN, all payment done by traditional banks which includes salaries can be paid into the crypto.com IBAN account directly. The IBAN can be opened on the crypto.com wallet and card app with just a few taps.
Crypto.com is a pioneering payment and cryptocurrency platform based in Hong Kong.