Crypto.com Continues Global Expansion, Gets Approval in Cayman Islands
Crypto.com, a cryptocurrency exchange based in Singapore, has
gotten regulatory approval to operate as a virtual asset service provider
(VASP) in the Cayman Islands.
The crypto exchange also received
registration to function as a VASP in the self-governing overseas territory of
the United Kingdom.
Crypto.com, which announced the development on
Thursday, said it got the registration and approval from the Cayman Islands
Monetary Authority (CIMA).
CIMA is the primary financial market
regulatory body in the Cayman Islands.
The crypto exchange noted that approval
will make it possible for it to offer a range of digital asset products and
services that are compliant with the islands’ regulations.
Kris Marszalek, Co-Founder and CEO of
Crypto.com, in a statement said the approval is a testament of the
cryptocurrency exchange’s dedication to compliance.
Marszalek also noted that the development
proves Crypto.com’s ‘constructive approach to regulator engagement.’
“We look forward to expanding our suite of
offerings and services available, and continuing to work with stakeholders
across sectors on advancing blockchain technology,” he said.
Crypto.com Aims for Global Impact
Crypto.com, which was established in 2016,
describes itself as the world’s fastest growing global cryptocurrency platform.
The crypto exchange said it serves over 50
million customers and is committed to powering the global adoption of
cryptocurrency.
The new approval from CIMA is one only of
several regulatory approvals the Singapore-based exchange has gained recently.
On Monday, Crypto.com announced that it had
secured the Electronic Financial Transaction Act and VASP registration in South
Korea.
The exchange achieved this by acquiring
PnLink Co. Limited, a payment service provider, and OK-BIT Co. Limited, a VASP
company.
In July, the exchange obtained regulatory approval from
the Cyprus Securities and Exchange Commission (CySEC) to operate in island
country Cyprus, which is popular as a tax haven.
Earlier in June, Crypto.com also got in-principle
approval from the Monetary Authority of Singapore
to operate as a major payment institution.
Among other things, this license will
enable the cryptocurrency exchange to offer digital payment token services to
clients in the country.
Furthermore, in early June, Crypto.com
obtained provisional approval for
the Minimal Viable Product license of the Dubai Virtual Assets Regulatory
Authority.
This license will enable the crypto
exchange to offer additional products and services to both institutional
investors and qualified consumers.
Crypto.com, a cryptocurrency exchange based in Singapore, has
gotten regulatory approval to operate as a virtual asset service provider
(VASP) in the Cayman Islands.
The crypto exchange also received
registration to function as a VASP in the self-governing overseas territory of
the United Kingdom.
Crypto.com, which announced the development on
Thursday, said it got the registration and approval from the Cayman Islands
Monetary Authority (CIMA).
CIMA is the primary financial market
regulatory body in the Cayman Islands.
The crypto exchange noted that approval
will make it possible for it to offer a range of digital asset products and
services that are compliant with the islands’ regulations.
Kris Marszalek, Co-Founder and CEO of
Crypto.com, in a statement said the approval is a testament of the
cryptocurrency exchange’s dedication to compliance.
Marszalek also noted that the development
proves Crypto.com’s ‘constructive approach to regulator engagement.’
“We look forward to expanding our suite of
offerings and services available, and continuing to work with stakeholders
across sectors on advancing blockchain technology,” he said.
Crypto.com Aims for Global Impact
Crypto.com, which was established in 2016,
describes itself as the world’s fastest growing global cryptocurrency platform.
The crypto exchange said it serves over 50
million customers and is committed to powering the global adoption of
cryptocurrency.
The new approval from CIMA is one only of
several regulatory approvals the Singapore-based exchange has gained recently.
On Monday, Crypto.com announced that it had
secured the Electronic Financial Transaction Act and VASP registration in South
Korea.
The exchange achieved this by acquiring
PnLink Co. Limited, a payment service provider, and OK-BIT Co. Limited, a VASP
company.
In July, the exchange obtained regulatory approval from
the Cyprus Securities and Exchange Commission (CySEC) to operate in island
country Cyprus, which is popular as a tax haven.
Earlier in June, Crypto.com also got in-principle
approval from the Monetary Authority of Singapore
to operate as a major payment institution.
Among other things, this license will
enable the cryptocurrency exchange to offer digital payment token services to
clients in the country.
Furthermore, in early June, Crypto.com
obtained provisional approval for
the Minimal Viable Product license of the Dubai Virtual Assets Regulatory
Authority.
This license will enable the crypto
exchange to offer additional products and services to both institutional
investors and qualified consumers.
Credit: Source link
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