Singaporebased cryptocurrency exchange Crypto.com, South Korea entered the market with two local startup acquisitions. The company, which offers payment services, announced in its announcement. PnLink Co.and digital asset provider OK-BIT.Coannounced that they bought the .
Singapore-based Crypto.com also announced that it has registered with the relevant authority as a virtual asset service provider under South Korea’s electronic financial transaction law.
Co-founder and CEO of the company Chris MarszalekHe said the company will continue to work with regulators to offer its products and services in countries where users have a high interest in digital assets, such as South Korea.
I visited our Seoul’s office and met with some of the teammates who contributed to securing our payment and crypto services registrations in South Korea 🙌🏼
Very grateful for their hard work 🙏🏼, impressed by their humility and strong ambition for the market!
Onwards 가즈아 🚀! pic.twitter.com/MuYK76Aw4Z
— Eric Anziani (@ericnode) August 8, 2022
Crypto.com Ready For South Korea
Crypto.com has also received principle approval from the Monetary Authority of Singapore in its application for a payment institution license, while it has provisional approval for a virtual asset license in Dubai. In addition, the company has Securities and Exchange registration in Cyprus and related registrations in Italy and Greece.
Crypto.com Takes 5 Percent Layoffs
Crypto.com, the cryptocurrency exchange with more than 50 million users worldwide, stated that they have adopted a “continuous and sustainable growth model” in the long term. Based on this, the company laid off approximately 5 percent of its workforce, i.e. 260 people.
