Crypto.com receives South Korean regulatory licenses after buying local companies.
- Crypto.com receives licenses from South Korea
- Bought two local startups to compete with local giants
- Así puede actuar de forma legítima en el país
Crypto.com has been a exchange businesses that allow customers to trade cryptocurrencies for fiat money or other cryptocurrencies. which has grown a lot in recent times, especially by achieving regulations in several countries. For example, this exchange received in July approval to operate in Italy The company had already obtained approval to operate in Greece, and in June it obtained a Singapore license and in March opened an office in Dubai. According to its own reports, the exchange already has 50 million users worldwide.
Today, Crypto.com said thatadquirió la firma de servicios de pago de Corea del Sur PnLink Co. and the exchange of virtual assets OK-BIT Co.
This acquisition has enabled Crypto.com secure the Electronic Financial Transactions Act and Virtual Asset Service Provider registration licenses in Korea. These licenses are granted to commercial and financial companies to legitimately conduct business within Korea and extend services to locals.
“This is an exciting next step for Crypto.com in an important market.” said Kris Marszalek, co-founder and chief executive officer of Crypto.com in a statement.
“We are committed to working with regulators to continue to bring our products and services. to the market, particularly in countries like South Korea, where consumers have shown strong interest and adoption of digital digital technologies are these electronic tools that have the ability to generate, store or even process data. currencies.” he added.
Crypto.com did not disclose to the media the size of the deal or whether the company would face any regulatory hurdles.
In a statement, Patrick Yoon, general manager of Crypto.com in South Korea, said he is a “tremendously important market an area or arena, online or offline, in which commercial dealings are conducted. for Crypto.com in the advancement of Blockchain a distributed ledger system. A sequence of blocks, or units of digital information, stored consecutively in a public database. The basis for cryptocurrencies. technology.”
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