Crypto.com Secures Crypto License In Italy

Digital asset exchange CRYPTO.COM received regulatory approval from Italy’s top financial watchdog on Tuesday and the platform can now offer its services to customers in the country as the company intensifies expansion efforts in Europe and across the globe.

The Singapore-located crypto exchange bagged a crypto license that allows the platform provides virtual currency and digital wallet services to Italian investors, per Tuesday’s announcement. 

Italy’s head regulatory body, the Organismo Agenti e Mediatori (OAM), granted the license to Crypto.com as confirmed by the exchange via an official statement and a post shared on Twitter.

The platform’s co-founder and CEO Kris Marszalek opined that the latest license signals a pivotal moment for the company as regards growth. 

We are excited to receive this registration in Italy and view it as a major step forward for Crypto.com. We are committed to building lasting growth in the region and will continue working with regulators to deliver a wide range of products and services to our valued customers. 

Crypto.com with its over 50 million worldwide users and more than $650 million daily trading volume also bagged approval to operate services in Greece as part of its dive into European markets.

Crypto.com, Binance, And Other Exchanges Expand In Europe And The Middle East

Crypto.com joins leading exchange Binance as a regulated digital asset entity in Italy. Both exchanges along with a host of others like FTX and Kraken have set their eyes on multiple jurisdictions in 2022, per reports. 

Marszalek’s firm also bagged a provisional crypto license from Dubai’s Virtual Assets Regulatory Authority (VARA) and has a presence in the United Arab Emirates (UAE) by virtue of the approval.