Crypto.com Invests €150 million Into France As Its New Regional Headquarters
Crypto.com has announced a €150 million ($145 million) investment in France to assist its activities there, including the establishment of a European headquarters in Paris.
In addition to establishing its EU headquarters in the capital city, the investment will strive to attract local expertise to focus on compliance, business development, and product development, as well as finance marketing activities in the region, according to a statement issued Wednesday.
Crypto.com just received authorization from the French authority to operate as a Digital Asset Service Provider (DASP). In addition to France, the firm received regulatory permission in Italy in July.
COO of Crypto.com Eric Anziani said in the announcement:
“We are incredibly excited to cement our commitment to France and Europe through the establishment of our regional headquarters in Paris.”
Along with Crypto.com, several foreign cryptocurrency exchanges such as Luno and Binance have obtained licenses in France as the country aims to position itself as a blockchain technology powerhouse. Binance, like Crypto.com, declared a €100 million ($97 million) investment in the nation.
This year, Crypto.com has achieved significant regulatory milestones, including approvals in the United Kingdom, Italy, Cyprus, South Korea, and Dubai. The exchange announced sponsorship partnerships with the English Premier League, Nascar, and Aston Martin’s Formula One division during the peak of the bull market in 2021.
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