Singapore-based crypto exchange Crytpo.com has announced that it has received regulatory approval to operate as a virtual asset service provider (VASP) in the Cayman Islands. This also authorizes the crypto exchange to offer digital asset services abroad in the UK.
Crypto.Com offers a wide range of digital asset products
Following VASP approval, Crypto.com can now offer a variety of digital asset products and services approved by the Cayman Islands Monetary Authority (CMA).
Chris Marszalek, CEO of Crytpo.com, said that the license approval is proof that the company is always ready to meet the regulatory requirements of compliance.
The approval is further proof that Crytpo.com is taking a constructive approach to regulatory engagement, he added. In addition, the company said it will continue to expand its footprint by collaborating with regulators and stakeholders in various sectors to improve blockchain technology.
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Crytpo.com was launched in 2016 as a platform offering products and services related to digital assets. The company describes itself as the fastest growing crypto platform in the world. Crippo.com said it serves more than 50 million customers worldwide. One of the firm’s goals is to continue to enable global crypto adoption.
Crypto.com has obtained licenses in South Korea and Dubai
The CIMA approval represents one of several regulatory approvals the company has received over the past few years.
Crytpo.com has recently announced that it has received approval from South Korea’s VASP and Electronic Financial Transactions Act. This was made possible by the VASP company OK-BIT Co. Limited and payment service provider Pinlink Co. Limited.
Last month, the crypto exchange received regulatory approval from the Cyprus Securities and Exchange Commission (CSEC). The approval allows the firm to conduct digital services operations in the country, which is a tax haven for companies.
The company has received a temporary license in Dubai, which will allow it to provide virtual property services in the region.
In June this year, Crytpo.com received in-principle approval from the Monetary Authority of Singapore as a major payment institution. The license gives Crytpo.com the authority to offer digital payment token services to customers in the country.