The world’s fastest-growing cryptocurrency platform, Crypto.com has received registration and regulatory approval as a Virtual Asset Service Provider in the Cayman Islands.
The approval from the Cayman Islands Monetary Authority allows Crypto.com to offer its suite of services and products to the residents of the Caymans Islands in compliance with the local regulations.
Are you looking for fast-news, hot-tips and market analysis?
Sign-up for the Invezz newsletter, today.
In a statement announcing the approval, the co-founder and CEO of Crypto.com, Kris Marszalek, said:
“This regulatory approval in the Cayman Islands is the latest example of Crypto.com’s commitment to compliance and our constructive approach to regulator engagement. We look forward to expanding our suite of offerings and services available, and continuing to work with stakeholders across sectors on advancing blockchain technology.”
Crypto.com continues to actively expand
The Crypto.com ecosystem has continuously grown over the years and it now serves over 50 million users worldwide.
Today’s accouchement comes a few days after the crypto platform received in-principle approval for a Major Payment Institution License from the Monetary Authority of Singapore, provisional approval Virtual Asset License from the Dubai Virtual Assets Regulatory Authority, Electronic Financial Transaction Act and Virtual Asset Service Provider registration in South Korea, registration in Italy from the Organismo Agenti e Mediatori (OAM), registration in Greece from the Hellenic Capital Market Commission, and registration in Cyprus from the Securities and Exchange Commission.
The expansion into the Cayman Islands also helps the platform stay its course towards its vision: Cryptocurrency in Every Wallet.
68% of retail CFD accounts lose money