Major cryptocurrency exchange Crypto.com continues expanding its crypto on-ram and off-ramp solutions with a new partnership with the California state-chartered bank Silvergate.

Crypto.com announced on Tuesday that it is working with Silvergate to allow institutional clients to deposit and withdraw from the exchange using the U.S. dollar (USD).

According to the announcement, depository financial institution transfers to and from the Crypto.com substitution are at present available for institutional investors. With the help of Silvergate, institutional clients can transfer USD directly between their bank accounts and Crypto.com with no fees.

The new feature is enabled through the Silvergate Commutation Network, a payments platform enabling users to instantly send U.S. dollars at whatever time of the day. The feature will be available to institutional clients in all commutation available markets, the announcement notes.

Crypto.com co-founder and CEO Kris Marszalek said that the new feature is "highly requested" and supports the company's vision of accelerating the globe's transition to cryptocurrency. "Nosotros are excited to work with Silvergate to provide an additional fiat on/off ramp solution to our institutional clients," he added.

"This should be the first fourth dimension we have direct USD deposits," a spokesperson for Crypto.com told Cointelegraph, adding that previous integrations with Circle enabled deposits and withdrawals via transactions between USD and the USD Coin (UDSC) stablecoin.

Crypto.com launched withdrawals through USD depository financial institution transfers for institutional clients beyond more than 60 countries via Circumvolve API in Baronial. The exchange previously partnered with Circumvolve to enable USD deposits and USDC transfers for users in more than than xxx countries.

Related: Silvergate Banking concern issues $100M credit line to mining firm Marathon Digital

Silvergate is a crypto-focused bank known equally the issuer of Facebook'southward not-still-launched digital currency Diem USD and the managing director of its reserve. The banking concern likewise assisted the launch of El Salvador's authorities-backed Bitcoin (BTC) wallet Chivo, interim as a responsible entity for facilitating Chivo'due south U.South. dollar transactions.