financemagnates.com
One of the fastest-growing cryptocurrency trading platforms, Crypto.com today confirmed that it has secured regulatory approval from UK’s Financial Conduct Authority (FCA). The approval has allowed the digital asset firm to offer a suite of products and services to UK-based customers.
The latest announcement from Crypto.com came just two days after the company signed a pre-registration undertaking with OSC in Canada to expand its presence in the North American region. Last week, Crypto received regulatory approval in the Cayman Islands.
In March 2022, Crypto.com announced several hirings in the UK, including a General Manager and a Global Head of Sustainability and ESG. According to the firm, the UK is a significant market for Crypto.com due to the rising adoption of digital assets.
“This is a significant milestone for Crypto.com, with the UK representing a strategically important market for us and at a time when the government is pushing forward with its agenda to make Britain a global hub for crypto asset technology and investment,” said Kris Marszalek, Co-Founder and CEO of Crypto.com. “We are committed to the UK market, and we look forward to developing our platform and presence in the UK further by expanding our offering to customers while continuing to work with regulators.”
Global Presence
The approval shows that the company is planning to enhance its reach across different regions. Founded in 2016, Crypto.com currently has more than 50 million users around the world. The company recently secured provisional approval of its Virtual Asset License from the Dubai Virtual Assets Regulatory Authority, Virtual Asset Service Provider registration in South Korea, registration in Italy from the Organismo Agenti e Mediatori (OAM), registration in Greece from the Hellenic Capital Market Commission, and registration in Cyprus from CySEC.
In January 2022, Crypto.com expanded its presence in Australia through a partnership with Adelaide Crows.