Crypto exchange platform crypto.com announced it’ll invest €150 million in France to expand its operations and set up a new regional headquarters in Paris.
The announcement states that the exchange is making a long-term commitment to France and intends to expand its talent pool by hiring local talent. With a local team, crypto.com will be growing within the region with a focus on compliance, product, and business development.
Crypto.com’s COO Eric Anziani said:
“We are incredibly excited to cement our commitment to France and Europe through the establishment of our regional headquarters in Paris… 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.”
The exchange is also looking to give back to the local community by establishing a presence in consumer activations, increasing engagement, and spreading education.
Permissions from local watchdogs
This decision came shortly after the exchange acquired regulatory licenses from the French watchdogs.
As a first step, crypto.com got clearance from the Authorité de Contrôle Prudentiel et de Résolution (ACPR) to be registered as a Digital Asset Service Provider (DASP). After that, in September, crypto.com finally got registered as a DASP by the Authorité des Marchés Financiers (AMF).
Crypto.com has been focusing on expanding recently.
The company got a Digital Payment Token (DPT) license from Singapore on June 22. This license enabled crypto.com to offer a range of payment services that fall under the Singaporean Payment Services Act.
In July, the exchange got a Crypto Asset Operator license from Italia’s Organismo Agenti e Mediatori (OAM), which allowed crypto.com to offer crypto trading, custody services, and other products in Italy.
A few days later, the exchange got approved by the Cyprus Securities and Exchange Commission (CySEC) to offer all its products and services to users in Cyprus. Around the same time, crypto.com received another license from the Greek watchdogs that allowed it to expand into Greece.
Crypto.com also secured its Virtual Asset MVP License from Dubai. Once the operational processes are complete, and the Dubai Virtual Assets Regulatory Authority (VARA) grants the license, crypto.com can also offer its exchange services in Dubai.
The exchange is also in a similar process with the regulators from South Korea, Australia, and Canada.