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Crypto.com Gains VASP Approval from Central Bank of Ireland

Finance Magnates

Cryptocoins News / Finance Magnates 39 Views

Crypto.com has received approval from the Central Bank of Ireland to operate as a Virtual Asset Service Provider (VASP). This approval will allow Crypto.com to expand its services in Ireland. These services include crypto-to-fiat exchanges and fiat wallets.

Expanding Services in Ireland

The VASP license indicates that Crypto.com meets the standards for compliance procedures. This includes measures for anti-money laundering and combating the financing of terrorism. These measures are important as cryptocurrencies are often used to bypass laws and sanctions.

Crypto.com serves a global customer base of 100 million people. The company aims to enhance its offerings in Ireland with this new approval.

Eric Anziani, President and COO of Crypto.com, commented: β€œThis approval from the Central Bank of Ireland is the latest testament to our commitment to compliance and responsible innovation. We are excited to broaden our offering in Ireland, enabling consumers to engage with the most comprehensive crypto product offering.”

Surpassing 100 Million Users Globally

Crypto.com has surpassed 100 million users globally, achieving this milestone since its inception in 2016, as Finance Magnatesreported. The cryptocurrency exchange attributes this success to recent marketing campaigns, including partnerships with notable personalities, venues, and events.

Notable efforts include hosting NBA and NHL playoffs at the Crypto.com Arena and sponsoring the Formula 1 Crypto.com Miami Grand Prix. The company also launched the "INEVITABLE" film under the "Fortune Favors the Brave" campaign.

CEO Kris Marszlek emphasized the importance of these campaigns in establishing the brand. In May, Crypto.com received a license from Dubai's Virtual Assets Regulatory Authority to offer institutional crypto trading. The exchange aims to expand its services for retail investors in Dubai and further solidify its global market position.

This article was written by Tareq Sikder at www.financemagnates.com.
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