Mixed Reception at Paris Blockchain Week

Crypto.com Announces Paris as its Regional Headquarters

  • Crypto.com has secured approvals in Italy, the UK, Cyprus, and South Korea.
  • The trading platform said it would engage local talent to engage in its European operations.
  • Crypto.com spent over $140 million on its new European headquarters.

Crypto trading platform, Crypto.com, has announced Paris, France, as its European regional headquarters. The digital asset trader reportedly invested $145.7 million in the division to handle its operations.

In a statement it released, the Singapore-based exchange noted that the move reflected its commitment to France, adding that it plans to engage local talents for its European activities. In addition, Crypto.com said it would hire individuals into departments such as product, compliance, and business development. The company said it would allocate more resources to expanding its brand presence via customer engagement and education initiatives.

Crypto.com recently received the green light from French authorities to provide its services and products in France. With over 50 million users, the crypto trading platform is looking to strengthen its grip on the European market. Crypto.com has already received the go-ahead from regulators in Italy and the UK. So, having France on the list reflects the company’s European ambitions.

Reacting to its presence in France, Eric Anziani, COO of Crypto.com, said,

We are incredibly excited to cement our commitment to France and Europe through the establishment of our regional headquarters in Paris. Our regulatory approval was the first important step in our journey in France, and we look forward to continuing to engage with stakeholders across sectors to help facilitate the new digital economy in France and providing customers a best-in-class crypto experience.

Launched in 2016, Crypto.com has developed into one of the biggest trading platforms and has its operations in different continents. Amidst the competition in the digital market space, Crypto.com distinguishes itself with its mobile app, which serves as the exchange’s primary user interface, and enables quick buying and selling of cryptocurrencies with seamless fiat onramps.

Despite the bear market, Crypto.com has enjoyed closer ties with authorities in different countries. Asides from France, Italy, and the UK, the exchange has obtained regulatory permits in Cyprus, South Korea, and Dubai, among other countries. The digital assets platform has also struck a series of sponsorship deals with brands such as Nascar and the English Premier League.

Crypto.com joins a growing list of digital service providers seeking to break through into the French market. The platform’s rival, Binance, announced in May that it had registered with France’s market regulator and is planning to set up a regional headquarter in the country.

Lawrence Woriji Verified

Lawrence has covered some exciting stories in his career as a journalist, he finds blockchain-related stories very intriguing. He believes Web3 will change the world and wants everyone to be a part of it.

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