After receiving regulatory approval, global cryptocurrency exchange Crypto.com can now operate in South Korea.
A strategic acquisition!
The exchange obtained an Electronic Financial Transaction Act and Virtual Asset Service Provider registration, as announced on the Crypto.com blog. They accomplished this by acquiring payment service provider PnLink Co. and virtual asset service provider OK-BIT Co.
“We are committed to working with regulators to continue to bring our products and services to market, particularly in countries like South Korea where consumers have shown strong interest and adoption of digital currencies,” said Kris Marszalek.
The exchange is aggressively pursuing a leadership position in global regulatory compliance, consumer safety, awareness, and protection. The exchange has already been granted permission in Singapore, Dubai, Italy, Greece, and Cyprus.
What is Crypto.com?
Crypto.com is a cryptocurrency exchange that launched in 2016. Within five years, it had grown to over ten million users. Bobby Bao, Gary Or, Kris Marszalek, and Rafael Melo founded the platform with its headquarters in Singapore. The venue also hosts the Crypto.com Visa card, one of the world’s most extensive crypto card programs, the exchange, and a DeFi wallet, in addition to the crypto application. The exchange is active on three continents: the Americas, Europe, and Asia.