Singapore-based cryptocurrency exchange Crypto.com has entered the South Korean market with two local startup acquisitions. The company announced that PnLink Co., which provides payment services. and digital asset provider OK-BIT.Co.
Singapore-based Crypto.com also announced that it has registered with the relevant authority as a virtual asset service provider under South Korea’s electronic financial transaction law.
Kris Marszalek, the company’s co-founder and CEO, said the company will continue to work with regulators to offer its products and services in countries where users’ interest in digital assets is high, such as South Korea.
https://twitter.com/ericnode/status/1556547567281795072
Crypto.com Ready For South Korea
Crypto.com has also received principle approval from the Monetary Authority of Singapore in its application for a payment institution license, while it has provisional approval for a virtual asset license in Dubai. In addition, the company has Securities and Exchange registration in Cyprus and related registrations in Italy and Greece.
Crypto.com Takes 5 Percent Layoffs
Crypto.com, the cryptocurrency exchange with more than 50 million users worldwide, stated that they have adopted a “continuous and sustainable growth model” in the long term. Based on this, the company laid off approximately 5 percent of its workforce, i.e. 260 people.
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