Crypto firms and exchanges are expanding at a fast pace. With the rise in crypto adoption globally, firms are trying to bring in users from around the globe.
Platforms around the industry have begun to recognize promise in the European area after concentrating on Asia for a considerable amount of time. In an effort to get the endorsement of regional regulators, Crypto.com has been traveling around Europe. More recently, the company was able to secure a favorable response from French officials.
The exchange apparently became a registered Digital Asset Service Provider [DASP] in the area after a “rigorous evaluation” procedure. Following authorization from the Autorité de Contrôle Prudentiel et de Résolution [ACPR], Crypto.com also received approval to function as a DASP from the Autorité des Marchés Financiers [AMF].
In one of the recent announcements, the exchange confirmed an investment of €150 million in France.
Crypto.com announced Paris as its European HQ
As the exchange received the license to operate in the country, it can now provide its services to French citizens. The exchange also announced that it was choosing Paris as the European regional headquarters.
Crypto.com’s €150 million investment will also focus on hiring local talents from France. The exchange is trying to establish its commitment by focusing on compliance, local business development, and products.
“Our regulatory approval was the first important step in our journey in France, and we look forward to continuing to engage with stakeholders across sectors to help facilitate the new digital economy in France and providing customers a best-in-class crypto experience,” Eric Anziani, COO of Crypto.com.
Anziani also stated in the announcement that the team is excited to make its relationship with Europe robust with Paris as its new HQ. The exchange has been expanding and adding new features to its platform. Crypto.com also added an auto to-up feature for its cardholders recently.