<p>Crypto.com, a cryptocurrency exchange based in Singapore, has
gotten regulatory approval to operate as a virtual asset service provider
(VASP) in the Cayman Islands.</p><p>The crypto exchange also received
registration to function as a VASP in the self-governing overseas territory of
the United Kingdom.</p><p>Crypto.com, which <a href=”https://crypto.com/company-news/crypto-com-secures-virtual-asset-service-provider-registration-from-cayman-islands-monetary-authority”>announced the development</a> on
Thursday, said it got the registration and approval from the Cayman Islands
Monetary Authority (CIMA).</p><p>CIMA is the primary financial market
regulatory body in the Cayman Islands.</p><p>The crypto exchange noted that approval
will make it possible for it to offer a range of digital asset products and
services that are compliant with the islands’ regulations.</p><p>Kris Marszalek, Co-Founder and CEO of
Crypto.com, in a statement said the approval is a testament of the
cryptocurrency exchange’s dedication to compliance.</p><p>Marszalek also noted that the development
proves Crypto.com’s ‘constructive approach to regulator engagement.’</p><p>“We look forward to expanding our suite of
offerings and services available, and continuing to work with stakeholders
across sectors on advancing blockchain technology,” he said.</p><p>Crypto.com Aims for Global Impact</p><p>Crypto.com, which was established in 2016,
describes itself as the world’s fastest growing global cryptocurrency platform. </p><p>The crypto exchange said it serves over 50
million customers and is committed to powering the global adoption of
cryptocurrency.</p><p>The new approval from CIMA is one only of
several regulatory approvals the Singapore-based exchange has gained recently.</p><p>On Monday, Crypto.com <a href=”https://www.financemagnates.com/cryptocurrency/news/cryptocom-boosts-global-presence-secures-registration-in-south-korea/”>announced that</a> it had
secured the Electronic Financial Transaction Act and VASP registration in South
Korea. </p><p>The exchange achieved this by acquiring
PnLink Co. Limited, a payment service provider, and OK-BIT Co. Limited, a VASP
company.</p><p>In July, the exchange <a href=”https://www.financemagnates.com/cryptocurrency/regulation/cryptocom-obtains-regulatory-approval-from-the-cysec/”>obtained regulatory approval</a> from
the Cyprus Securities and Exchange Commission (CySEC) to operate in island
country Cyprus, which is popular as a tax haven.</p><p>Earlier in June, Crypto.com <a href=”https://www.financemagnates.com/cryptocurrency/news/cryptocom-gets-in-principle-approval-from-singapores-mas/”>also got in-principle
approval</a> from the Monetary Authority of Singapore
to operate as a major payment institution.</p><p>Among other things, this license will
enable the cryptocurrency exchange to offer digital payment token services to
clients in the country.</p><p>Furthermore, in early June, Crypto.com
obtained <a href=”https://www.financemagnates.com/cryptocurrency/regulation/cryptocom-gets-provisional-approval-from-dubai-regulatory-authorities/”>provisional approval</a> for
the Minimal Viable Product license of the Dubai Virtual Assets Regulatory
Authority.</p><p>This license will enable the crypto
exchange to offer additional products and services to both institutional
investors and qualified consumers.</p>
This article was written by Solomon Oladipupo at www.financemagnates.com.
