Crypto.com makes considerable investments in France by building its HQ in the capital
France is becoming a honeypot for many crypto exchanges. Some, including Binance and Crypto.com, see the country as a “window to Europe”.
Back in September 2022, Crypto.com announced that it had obtained a license from the French regulator and was registered as a Digital Asset Service Provider (DASP) by the Autorité des marchés financiers (AMF). The company’s management stated that they managed to pass a number of complex inspections focused particularly on their anti-money laundering (AML) and counter terrorist financing measures.
On October 12, the exchange announced its intention to invest €150,000,000 in France to support its future market operations both within the country and across Europe. The company also confirmed a long-term commitment to France.
The money will be spent on establishing Crypto.com's European headquarters in Paris and strengthening the company’s market position. The exchange is also committed to recruiting French experts in economics, law, and digital assets. They believe this team expansion will ensure better interaction with French law and more efficient integration into the local economy.
The European market is central to the long-term growth and success of Crypto.com and we are tremendously proud to now receive registration in France from the AMF, said Kris Marszalek, CEO of Crypto.com.
This year, two more crypto businesses, Luno and Binance, have passed scrutiny from French regulators. Binance obtained the license back in May 2022 and later announced plans to move its headquarters to France. The company intends to make considerable investments in the country. However, the amount invested is 50 million euros less than that of Crypto.com.
It’s worth noting that the Crypto.com exchange is ranked among the world’s most popular exchanges.The exchange has managed to obtain the regulatory approvals from most European countries in 2022.
