Crypto.com is now a registered virtual asset service provider in the Cayman Islands a few weeks after obtaining its licence in Dubai.
Crypto.com, one of the world’s fastest-growing cryptocurrency platforms, announced on Thursday, August 11th, that it had received registration and regulatory approval as a Virtual Asset Service Provider from the Cayman Islands Monetary Authority.
Tha ks to this latest development, Crypto.com can offer a suite of products and services in compliance with local regulations.
Kris Marszalek, Co-Founder and CEO of Crypto.com, commented that;
“This regulatory approval in the Cayman Islands is the latest example of Crypto.com’s commitment to compliance and our 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.”
The cryptocurrency exchange has been expanding its presence globally and now has over 50 million users on its platform.
Crypto.com said today’s announcement comes after it received in-principle approval for a Major Payment Institution License from the Monetary Authority of Singapore, provisional approval of its Virtual Asset License from the Dubai Virtual Assets Regulatory Authority, Electronic Financial Transaction Act and Virtual Asset Service Provider registration in South Korea.
Furthermore, Crypto.com is also registered in Italy under the Organismo Agenti e Mediatori (OAM), registered in Greece by the Hellenic Capital Market Commission, and registered in Cyprus by the Securities and Exchange Commission.
Crypto.com has been around since 2016 and currently serves millions of traders and investors globally.
The Cayman Islands is one of the most cryptocurrency-friendly countries in the world. Virtual assets (cryptocurrencies and other digital assets) in the Cayman Islands are accepted as digital representations of value that can be electronically traded and used for investment purposes.
Crypto.com said it is committed to accelerating the adoption of cryptocurrency via innovation and empowering the next generation of builders, creators, and entrepreneurs.