Crypto.com scores approval from Italy finance regulators, the Organismo Agenti e Mediatori (OAM)
The ongoing turmoil in the crypto market has done little to stop the world’s fastest-growing cryptocurrency platform Crypto.com from making inroads into new markets.
Today, Crypto.com announced today that it has received registration and regulatory approval from the Organismo Agenti e Mediatori (OAM) in Italy as a provider of virtual currency and digital wallet services. This approval will enable Crypto.com to offer a suite of products and services to Italian customers in compliance with local regulations.
The announcement comes just a month after Crypto.com received in-principle approval from the Monetary Authority of Singapore (MAS) for its Major Payment Institution License. Once granted, the license will allow the digital asset services provider to offer a broad range of payment services in the region under the Payment Services Act. The offering will include Digital Payment Token (DPT) services to clients in the country.
“We are excited to receive this registration in Italy and view it as a major step forward for Crypto.com,” said Kris Marszalek, Co-Founder and CEO of Crypto.com. “We are committed to building lasting growth in the region and will continue working with regulators to deliver a wide range of products and services to our valued customers.”
Crypto.com continues to actively grow and expand its ecosystem, with more than 50 million users worldwide. Crypto.com has also recently received registration in Greece from the Hellenic Capital Market Commission, in-principle approval for a Major Payment Institution License from the Monetary Authority of Singapore, and provisional approval of its Virtual Asset License from the Dubai Virtual Assets Regulatory Authority.
Founded in 2016, Singapore-based Crypto.com is a pioneer of payments and cryptocurrency with a mission to accelerate the world’s transition to cryptocurrency. The startup is working towards this goal with its portfolio of consumer products, including the Crypto.com Wallet & Card App, the MCO Visa Card, Crypto Invest, Crypto.com Chain, as well as Crypto Credit.
To date, Crypto.com now serves over 5 million customers today, providing them with a powerful alternative to traditional financial services through the Crypto.com App, the Crypto.com Card, and the Crypto.com Exchange. The Crypto.com Wallet allows users to buy, sell, and pay with cryptocurrencies, such as Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), Binance Coin (BNB), and Crypto.com’s MCO and CRO Tokens.