Singapore-based cryptocurrency exchange, Crypto.com became the latest crypto platform to secure permission to operate in Italy after the Italian monetary regulators Organismo Agenti e Mediatori (OAM) gave its approval.
In a recent press release, the leading exchange announced that it had acquired the regulatory approval of Organismo Agenti e Mediatori (OAM).
This development will allow the exchange to offer various products and services to its Italian customers.
While speaking about the licence approval, the co-founder and CEO of Crypto.com, Kris Marszalek, further said,
“We are excited to receive this registration in Italy and view it as a major step forward for 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.”
OAM recently made it mandatory for crypto businesses to entail regulatory approval to operate in the country. So while Coinbase got the green light to provide services to Italian residents yesterday, Binance secured a licence to run about a month ago.
Related: Singapore Firmly Holds on to Crypto Regulation Following Recent Collapse Of Leading Blockchain Firms
Crypto.com Continues to Expand
The leading exchange remains committed to increasing its market share in Europe. So far, Crypto.com has over 50 million users worldwide, and it is still actively developing its ecosystem.
The Hellenic Capital Market Commission recently registered Crypto.com in Greece, and the Monetary Authority of Singapore granted in-principle authorisation for a Major Payment Institution License. Also, Dubai Virtual Assets Regulatory Authority gave preliminary approval for its Virtual Asset License.
Crypto.com aims to accelerate the development of entrepreneurs, creators, and builders to establish a more robust and equal digital ecosystem and speed up the adoption of cryptocurrencies through innovation.
Read more: Dubai to Expand Its Metaverse Efforts With 40,000 New Jobs.
