Crypto.com, a cryptocurrency exchange with 80 million users worldwide, has received permission to operate as an electronic money institution in the United Kingdom.
According to today’s announcement, Crypto.com will use the permission it received from the UK’s regulatory authority, the Financial Conduct Authority (FCA), to offer electronic money products in the country.
The Singapore-based company was registered as a cryptocurrency company in the United Kingdom last year.
Kris Marszalek, CEO of Crypto.com, “The UK has been and continues to be an extremely important market for our business and the industry generally.” said.
Some other cryptocurrency companies, such as Coinbase and Gemini, have also been licensed as electronic money institutions in the UK.