Crypto.com announced in a press release on Monday that it has been granted permission to function as an electronic money institution in the United Kingdom.
According to the company, it will offer e-money products in the United Kingdom using the new licence it received from the Financial Conduct Authority. In August of last year, the FCA registered Crypto.com, then known as Forisgfs UK, as a cryptocurrency business.
The CEO of Crypto.com, Kris Marszalek, stated, “The U.K. has and continues to be a hugely important market for our business and the greater industry.” Its stated goal is to become a centre for cryptocurrency.
Crypto.com has been working hard to comply with international regulators. The U.S. Commodity Futures Trading Commission regulates the exchange as a derivatives clearing organisation, and it recently obtained licences in Singapore. It is also licenced and registered in Dubai, France, and other countries.