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HomeTechnologyCrypto.com plans to invest €150M in France to expand its business operation 

Crypto.com plans to invest €150M in France to expand its business operation 

On October 12, the cryptocurrency exchange platform Crypto.com recently made the announcement that it would make an investment of €150 million in France in order to develop its business and establish a new regional headquarters in Paris.

According to the release, the exchange has decided to have a long-term presence in France and has plans to increase the size of its talent pool by recruiting individuals from inside the country. Crypto.com will be expanding its presence inside the area with the help of a local team, with a particular emphasis on compliance, product, and business development.

In addition, the exchange wants to do its part to contribute to the betterment of the surrounding community by having a presence in consumer activities, boosting participation, and disseminating educational information.

This decision was made not long after the exchange had successfully obtained regulatory licences from the French oversight organisations. In the first round of this process, crypto.com was successful in obtaining authorization from the Authorité de Contrôle Prudentiel et de Résolution (ACPR) to become registered as a Digital Asset Service Provider (DASP). After that, the DASP application for crypto.com was submitted to and approved by the Autorité des Marchés Financiers in the month of September.

On June 22nd, the firm was awarded a Digital Payment Token (DPT) licence by the country of Singapore. With the help of this licence, crypto.com was allowed to start providing a variety of payment services that are regulated by the Singaporean Payment Services Act.

The Crypto Asset Operator licence was granted to the exchange by Italy’s Organismo Agenti e Mediatori (OAM) in July. This licence enables crypto.com to provide cryptocurrency trading, custody services, and other goods to customers in Italy.

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Reporter
Jeewan Singh is CryptoShrypto’s content writer and a seasoned writer with over two years of experience in writing about Indian Securities Market. Jeewan's participation in Blockchain and Cryptocurrency started in late 2020, and he hasn't looked back since. The technical and economic outcomes of cryptocurrency are what spark his curiosity, and he keeps one eye on the market.
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