Crypto.com, the most rapidly expanding cryptocurrency platform globally, has now revealed that it has been officially recognized as a crypto asset firm by the UK’s Financial Conduct Authority (FCA). With this authorization, Crypto.com may provide a full range of services to consumers in the UK while adhering to all applicable laws and rules.
According to Crypto.com’s co-founder and CEO Kris Marszalek:
“This is a significant milestone for Crypto.com, with the UK representing a strategically important market for us and at a time when the government is pushing forward with its agenda to make Britain a global hub for crypto asset technology and investment. We are committed to the UK market and we look forward to developing our platform and presence in the UK further by expanding our offering to customers, while continuing to work with regulators.”
Several high-level positions were added to Crypto.com’s UK team in March, including a UK General Manager and a Global Head of Sustainability and ESG. BanklessTimes reports that the use of cryptocurrencies in the United Kingdom expanded by 650% between 2018 and 2021, making the country a promising market for the sector.
Beyond the 50 million users it already has, Crypto.com is continuously growing and expanding its ecosystem. Earlier this month, Crypto.com received provisional approval of its Virtual Asset License from the Dubai Virtual Assets Regulatory Authority, registration under South Korea’s Electronic Financial Transaction Act and as a Virtual Asset Service Provider in Italy’s Organismo Agenti e Mediatori (OAM), and today’s announcement continues this string of regulatory license accomplishments.