cryptonews.com
Following regulatory approvals, Crypto.com officially announced that its app will launch in South Korea, granting retail customers access to trade over 150 cryptocurrencies and explore exclusive non-fungible token (NFT) projects.
https://t.co/vCNztATkNg App is going live in South Korea on 29 April
Retail users will soon have access to 150+ cryptocurrencies securely and reliablyRegister your interest here: https://t.co/MN6tlRL3Qg
More details: https://t.co/ZJ2JtO1Hc0 pic.twitter.com/xNSnuRgMS2
— Crypto.com (@cryptocom) April 2, 2024
What Crypto.com App Will Offer in South Korea
With the app’s debut in the country, retail users can set up trading accounts to leverage its developed platform and licensing. Beyond trading, the platform enriches the user experience with educational resources from Crypto.com University and a suite of benefits and rewards.
“We are incredibly excited to be launching the Crypto.com App for retail users in South Korea – a market of tremendous importance to the growth of our business, and one in which consumers are very interested in crypto,” said Crypto.com President and Chief Operating Officer Eric Anziani.
“South Korean regulators are thoughtfully advancing the sector and we look forward to continuing to collaborate with them to help grow the industry responsibly,” stated Anziani.
Compliance Endeavors and Partnerships
Crypto.com indicated that it has committed to ongoing collaboration with South Korean regulators, aiming to align its operations with local legal standards and uphold the principles of ethics and risk management.
The app’s scheduled launch would mark a significant step in Crypto.com’s South Korean journey. Prior achievements include obtaining Electronic Financial Transaction Act and Virtual Asset Service Provider registrations in August 2022.
Further solidifying its presence, Crypto.com has forged partnerships through Memorandums of Understanding with companies across finance, gaming, and communication sectors in South Korea.
“South Korean crypto enthusiasts are highly engaged with the market and eager for more comprehensive and regulated Web3 products and services,” said Crypto.com South Korea’s General Manager Patrick Yoon.
“We spent significant time and resources tailoring our offering for this market and are honoured to be the first and largest global cryptocurrency exchange to launch in South Korea,” said Yoon.