Crypto.com has partnered with Green Dot to expand its financial services to its U.S.-based users. Using Green Dot’s embedded finance platform, Arc, Crypto.com will rely on Green Dot to support Crypto.com’s Cash Accounts, providing users with easy access to U.S. dollar funding options and utilizing savings tools.Â
This collaboration brings an on-and-off ramp system enabling users to deposit or withdraw funds digitally or in cash from over 95,000 retail locations nationwide through the Green Dot Network.
What’s more, it also includes the launch of a new savings vault that enables users to earn interest on the balances in their Cash Accounts. Cryptocurrency users benefit more from these services, as they help enhance financial accessibility and make account funding and withdrawal easy through fiat.
Retail Cash Locations and Interest-Earning Vaults Accessed
With this integration, Crypto.com users can easily fund their cash accounts at retail stores, including Walmart, Walgreens, CVS, and 7-Eleven. With its infrastructure, Green Dot guarantees that a participating store will be near almost everyone in the United States. So, many cash deposits and withdrawals will be simpler for most people. This is particularly important in the underbanked, where banking services are limited.
Users can earn interest on U.S. dollar balances through the savings vault in their Cash Accounts. This feature improves the utility of customers’ funds to buy cryptocurrencies, is a good financial tool, and expands Crypto.com’s non-crypto services in a safe, regulated space.
Expanding Financial Tools in a Regulated Environment
The integration of Crypto.com with Arc by Green Dot fits the crypto firm’s efforts to bring greater utility to digital assets and bridge the gap between traditional finance and crypto finance. Crypto.com’s customers have access to regulated financial services, Arc’s FDIC-insured banking capabilities, and enterprise-grade APIs, which enable seamless transactions and compliance oversight.
Green Dot has over 80 million account holders across multiple channels. The company’s collaboration with Crypto.com marks the expansion of its embedded finance tools to provide scalable and secure banking services within the digital platform.
