Crypto.com Expands In South Korea And Explores Alternative Business Models

Seoul – South Korea, August 8, 2022 – Crypto.com, the world’s fastest growing cryptocurrency platform, announced today it has secured Electronic Financial Transaction Act and Virtual Asset Service Provider registration by acquiring payment service provider ‘PnLink Co., Ltd.’ and virtual asset service provider ‘OK-BIT Co., Ltd.’. 

“This is an exciting next step for Crypto.com in an important market,” said Kris Marszalek, Co-Founder and CEO of Crypto.com. “We are committed to working with regulators to continue to bring our products and services to market, particularly in countries like South Korea where consumers have shown strong interest and adoption of digital currencies.”

“We believe our services can not only help further evolve and empower commerce in Korea, but also support the greater creation and development of our Web3 ecosystem,” said Patrick Yoon, General Manager, South Korea of Crypto.com. “Korea is a tremendously important market for Crypto.com in advancing blockchain technology.”

South Korea users as a secure and regulated platform

In achieving this milestone, Crypto.com remains committed to its mission of being an industry leader for regulatory compliance, consumer safety, awareness, and protection. Crypto.com looks forward to continuing to build a direct relationship with Korean users as a secure and regulated platform.

Crypto.com continues to grow and expand its ecosystem actively, with more than 50 million users worldwide. Today’s announcement follows Crypto.com having already received in-principle approval for a Major Payment Institution License from the Monetary Authority of Singapore, provisional approval of its Virtual Asset License from the Dubai Virtual Assets Regulatory Authority, registration in Italy from the Organismo Agenti e Mediatori (OAM), registration in Greece from the Hellenic Capital Market Commission, and registration in Cyprus from the Securities and Exchange Commission.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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