Crypto.com and Coinbase are endorsed by the Italian Organismo Agenti e Mediatori (OAM) to provide crypto trading, storage services, and other products in Italy.
US-based companies are moving to expand their product offerings throughout Europe. With regulatory approval from OAM, they have joined other major players, including: Binance As one of the few Cryptocurrency operator I have a license to provide cryptocurrency services in Italy.
Crypto.com and its extended streaks
Despite recent news Dismissal With 260 employees, Crypto.com is still spending time expanding its customer base globally to reduce costs.
March 2022, Crypto.com Participated in the list of crypto companies to ensure approval from Dubai Virtual Asset Regulators for virtual asset licenses. The interim approval not only allows the company to expand its customer base, but also allows it to set up regional headquarters in the emirate.
Eric Anziani, COO of Crypto.com, said:
“We will open regional headquarters in the Middle East and Africa here in Dubai. The United Arab Emirates is diversifying its industry, bold and creating opportunities, so running a business from here would be a great addition. We are here not only to gain more market share, but also to create a wider ecosystem with more opportunities for everyone. “
The Monetary Authority of Singapore (MAS) has accepted the principles of the company. Approval Providing payment services to the South Asian market. Kris Marszalek, co-founder and CEO of Crypto.com, said Singapore is a thriving market with a well-regulated environment for companies to deepen their roots.
With the approval of the business in Greece by the Greek Capital Markets Commission, the company is still expanding.
Coinbase and its growing crisis
The approval of the Italian watchdog has been a rare and positive event for Coinbase over the past few months.
Recently, an employee has caught fire and has caught fire. In early June 2022, the company withdrew some employment contracts. new employee And dismissal 1,100 employees It depends on the market conditions. Brian Armstrong, CEO of Coinbase, cited macroeconomic concerns and the impending recession as reasons for the move.
Despite efforts to save costs, the company’s performance has declined.Report by Bloomberg The recent downtrend in the crypto market has hit Coinbase as it has fallen below its rank as the top 10 exchanges in 14th place. This decline is due to a drop in market share from 5.3% in the first quarter to 3.6% in the second quarter compared to the top 30% crypto exchanges. So far, the market share for the third quarter is 2.9%.
July 15th Business Insider Report Coinbase has announced plans to suspend its affiliate marketing program in the United States. Many critics argued that this was a move to save the company from the impending liquidity crisis. The Coinbase community has come to defense, but the exchange still experienced a stablecoin spill.
As CryptoSlate Reportedly, about $ 248 million left Coinbase Pro that day, representing about 50% of all stablecoins in the vault. On-chain data provided by the report’s CryptoQuant shows that Coinbase’s stablecoin holdings fell from a record $ 1.2 billion in January 2022 to $ 284 million as of July 15, 2022. It suggests that you are.
