Crypto exchange platform crypto.com announced Investing €150 million in France to expand operations and establish new regional headquarters in Paris.
According to the announcement, the exchange has a long-term commitment to France and plans to hire local talent to expand its talent pool. Together with local teams, crypto.com will focus on compliance, product and business development to grow within the region.
Crypto.com COO Eric Anziani said:
“We are very pleased to reinforce our commitment to France and to Europe by establishing our regional headquarters in Paris … We will continue to work together across the sector to facilitate France’s new digital economy and to best serve our customers. We look forward to continuing our engagement with our stakeholders.- A crypto experience in a class.”
The exchange also aims to give back to the community by establishing a presence in consumer activation, increasing engagement and spreading education.
Permissions from the local watchdog
The decision came shortly after the exchange obtained a regulatory license from the French watchdog.
As a first step, crypto.com received permission from the Authorité de Controlrôle Prudentiel et de Resolution (ACPR) to register as a Digital Asset Service Provider (DASP). Then, in September, crypto.com was finally registered by the Authorité des Marchés Financiers (AMF) as his DASP.
Other extensions
Crypto.com has been busy expanding lately.
The company received a Digital Payments Token (DPT) license from Singapore on June 22nd. This license allows crypto.com to offer a range of payment services under Singapore’s Payment Services Act.
In July, the exchange received a Crypto Asset Operator license from Italy’s Organismo Agenti e Mediatori (OAM).
A few days later, the exchange was approved by the Cyprus Securities and Exchange Commission (CySEC) to offer all its products and services to users in Cyprus. Around the same time, crypto.com obtained another license from Greek Watchdog, allowing it to expand into Greece.
Crypto.com has also obtained a Crypto Asset MVP License from Dubai. Once the operational process is completed and licensed by the Dubai Virtual Assets Regulatory Authority (VARA), crypto.com will also be able to offer exchange services in Dubai.
The exchange is going through a similar process with regulators in South Korea, Australia and Canada.
