The announcement indicates that the exchange is making a long-term commitment to France and intends to expand its workforce by hiring talent in France. With a local team, crypto.com will expand in the region with a focus on compliance, products and business development.
Eric Anziani, COO of Crypto.com, said:
“We are incredibly excited to cement our commitment to France and Europe through the establishment of our regional headquarters in Paris… we look forward to continuing to engage with stakeholders across all sectors to help facilitate the new digital economy in France and provide customers with a best-in-class crypto experience.”
The exchange is also looking to give back to the local community by establishing a presence in consumer activations, increasing engagement, and spreading education.
Oversight Agency Permissions.
This decision came shortly after Crypto.com acquired regulatory licenses from the French government.
Initially, crypto.com obtained approval from the Autorité de contrôle prudentiel et de résolution (ACPR) to be registered as a Digital Asset Service Provider (DASP). Then, in September, crypto.com was finally registered as a DASP by the Autorité des Marchés Financiers (AMF).
Crypto.com has recently been focused on expansion.
On June 22, the company obtained a digital payment token (DPT) license from Singapore. This license allows Crypto.com to offer a range of payment services that fall under the Singapore Payment Services Act.
In July, the exchange obtained a Crypto Asset Operator license from Italy’s Organismo Agenti e Mediatori (OAM), which allowed crypto.com to offer crypto-currency trading services, custody services and other products in Italy.
A few days later, the exchange was approved by the Cyprus Securities and Exchange Commission (CySEC) to offer all its products and services to users in Cyprus. Around the same time, crypto.com received another license from the Greek watchdogs that allowed it to expand into Greece.
Crypto.com also got its Virtual Asset MVP license from Dubai. Once the operational processes are completed and the Virtual Asset Regulatory Authority (VARA) of Dubai grants the license, crypto.com will also be able to offer its exchange services in Dubai.
The exchange is also in a similar process with regulators in South Korea, Australia and Canada.