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Crypto.com and Triple-A tie up to enable direct crypto payments
The Straits Times
|November 22, 2024
Two Singapore-based digital asset firms will soon enable direct payments in cryptocurrencies from users' wallets, in a collaboration that shortens the transaction to a one-step process.
Exchange Crypto.com and digital asset payment firm Triple-A said on Nov 21 that they are tying up to use the latter's transaction settlement services to allow Singapore users to shop at e-commerce brands and pay directly with cryptocurrencies.
This can be done as Triple-A converts digital currencies into dollars with instant bank settlements.
Currently, users of the exchange have to withdraw the digital currency from their wallets and convert it into fiat money before paying Triple-A's merchants.
With the collaboration, payments to online retailers in the fashion, luxury, travel and gaming industries will be made through the exchange's wallet without conversion.
This simplifies transactions by removing conversion fees and reducing the payment process to a single step. The service is expected to be available before the end of the year.
This story is from the November 22, 2024 edition of The Straits Times.
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