Crypto.com gets a green light to operate in yet another country.
Crypto.com, one of the largest crypto exchanges, has received Italy’s Organismo Agenti de Mediatori's approval to "provide virtual currency and digital wallet services".
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According to the July 19th blog post, this is a great milestone, which will allow the company to provide its products and services to the Italian market while being a part of the country's financial system.
Italy, as one of the economical leaders of the European Union, has successfully adapted Bitcoin and other cryptocurrencies. The Italians are sharing a growing interest in crypto investments and blockchain technology. Therefore, it is not a surprise that Crypto.com is expanding its network there.
Unlike most European countries, the Italian Government is extremely keen to boost the adaptation of blockchain technology. Earlier this month, The Italian Ministry of Economic Development announced about the possibility to provide up to $46 million in funding for blockchain projects.
In the official announcement the CEO and Co-founder of Crypto.com, Kris Marszalek shares his excitement:
We are excited to receive this registration in Italy and view it as a major step forward for Crypto.com. We are committed to building lasting growth in the region and will continue working with regulators to deliver a wide range of products and services to our valued customers.
Singapore-based, Crypto.com is actively expanding around the world, claiming to have 50 million users worldwide. Just recently the crypto exchange platform announced receiving regulatory licenses to operate in Singapore, Dubai, and Greece.
The crypto exchange company is not the only one trying to get the chance to operate in the Italian cryptocurrency market. On July 18 alone, Coinbase also announced receiving approval from the Italian Anti-Money Laundering regulator.