Crypto.com Received a Service Provider License in Ireland
Date: 2024-06-12 Author: Henry Casey Categories: BUSINESS
Cryptocurrency exchange Crypto.com continues to expand its international presence by receiving permission to operate in Ireland. This event was an important step for the company, allowing it to provide cryptocurrency-to-fiat exchange services in the region.
Licensed by the Central Bank of Ireland
On June 11, 2024, Crypto.com announced that it had received a virtual asset service provider license from the Central Bank of Ireland. The company was listed on June 7 under the name Foris DAX. With this approval, the exchange will be able to offer services for exchanging cryptocurrencies for fiat money to its clients in Ireland.
President and Chief Operating Officer of Crypto.com Eric Anziani commented on receiving the license:
“This approval is the latest evidence of our commitment to compliance and responsible innovation. We are excited to expand our offering in Ireland, allowing consumers to enjoy the most comprehensive offering of crypto products.”
Previous Achievements
This is not the first time that Crypto.com has received significant regulatory approval. On April 9, 2024, the company announced that its Dubai unit had received approval from the local Virtual Assets Regulatory Authority (VARA). This allowed the exchange to expand its presence in the Middle East market.
Crypto.com already has licenses to operate in several countries, including the UK, the Netherlands, Singapore, France, South Korea and others. This underscores the company's commitment to complying with international standards and expanding its influence globally.
Other Examples of Regulation
It should be noted that the Central Bank of Ireland also recently added Ripple's subsidiary, Ripple Markets Ireland Limited, to its register of virtual asset service providers. This shows the growing willingness of Irish regulators to support virtual asset companies and recognize their importance to the economy.
Obtaining a license in Ireland was an important milestone for Crypto.com, strengthening its position in the European market. This event demonstrates not only the company's commitment to regulatory compliance, but also its commitment to responsible innovation. By expanding its services in Ireland, Crypto.com continues to provide its customers with access to a wide range of cryptocurrency products and services.
