CRYPTO.COM SECURES LICENSE APPROVAL TO PROVIDE DIGITAL ASSET SERVICES IN SOUTH KOREA is doubling down on its global expansion plan as it has recently completed a Virtual Assets Provider License registration in South Korea. The cryptocurrency platform received an Electronic Financial Transaction Act and Virtual Asset Service Provider registration from South Korea’s financial regulators after acquiring PnLink Co., a payment service and OK-BIT Co., a digital asset firm.


The company’s recent approval for licensed cryptocurrency activities in South Korea is a breath of fresh air to their customers especially considering the past few months which have been tumultuous because of the heavy bear market. At some point, had to lay off a considerable chunk of its staff to stay afloat.


The company’s CEO and founder, Kris Marszalek, described South Korea as an important market where his company is committed to complying with financial watchdogs while bringing it’s products and services to the Asian market. He further praised South Koreans for heavily engaging in the digital asset ecosystem.


With close to 50 million users, is one of the important players in the digital asset universe. Over the past few years, the company has invested a lot in marketing through several campaigns and partnerships with international celebrities to gain popularity. An example is Matt Damon, who is still the face of the firm on its official website. Another example is the $700 million agreement they made with the Los Angeles Lakers to rename their home ground from Staples Center to arena.


The exchange is also pursuing operational licenses across the globe. Two months ago, secured provisional approval from Dubai’s financial regulators to provide digital asset services in the region. Last month, the Orgamismo Agenti e Mediatori (OAM) gave it’s regulatory approval to the platform to offer it’s services to clients based in Italy.


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