Singapore-Based Crypto Exchange Crypto.com to Expand Operations in Cyprus

Crypto.com, a Singapore-based cryptocurrency exchange that currently serves over 500 million active users, has recently announced that it scored regulatory approval from the Cyprus Securities and Exchange Commission (CySEC).

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According to the official announcement issued on July 22nd, this time, the crypto exchange is seeking to expand its operations in Cyprus by launching a number of goods and services to customers located on the third largest island in the Mediterranean.

Kris Marszalek, CEO and co-founder of Crypto.com, commented on the initiative and mentioned that the firm would be looking to boost its presence across numerous countries in Europe. He added:

"Europe is a priority region for Crypto.com and our continued expansion in the market is a testament to our commitment to compliance and collaboration with regulators."

The news arrives right after the crypto giant secured regulatory approval from Organismo Agenti de Mediatori (OAM) to provide services in Italy. Likewise, Crypto.com has also expanded to Singapore, Greece, and Dubai.

Nonetheless, it seems like Singapore’s crypto exchange is not the only one to keep expanding in Europe, as its rival FTX also received approval back in March to offer its products in Cyprus. Likewise, trading platform Coinbase recently entered the Italian market to fire up new products and provide crypto-related services.

Crypto.com, founded in 2016, provides an extensive list of 250 supported cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Cardano (ADA), Polkadot (DOT), and even the meme-coin Dogecoin (DOGE). On top of that, the crypto exchange offers trading and investing services, as well as supports non-fungible tokens (NFTs) and crypto wallets.

On another note, earlier this week, Crypto.com announced that it is planning to fire up a brand new feature that would allow its Android users to leverage Google Pay as a legal payment method.

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