Cryptocom Granted VASP Approval by Central Bank of Ireland
Crypto.com, a prominent cryptocurrency exchange with over 100 million customers worldwide, has been given the green light by the Central Bank of Ireland to function as a Virtual Asset Service Provider (VASP).
This approval means that Crypto.com can now broaden its services in Ireland, including offering crypto-to-fiat exchanges and fiat wallets to its users. The VASP approval is a reflection of Crypto.com’s dedication to compliance and responsible innovation, meeting the necessary standards for anti-money laundering and combating the financing of terrorism.
Joining the ranks of other major crypto firms regulated by the Central Bank of Ireland, such as Coinbase, Ripple, Gemini, and MoonPay, Crypto.com aims to expand its offerings in Ireland with this new approval. With a global customer base of 100 million people, the company is making strides to enhance its presence in Ireland.
Eric Anziani, President and COO of Crypto.com, expressed his enthusiasm about the approval, emphasizing that the company is now part of a growing list of crypto companies regulated by the Central Bank of Ireland. As of June 7, 2024, the central bank has approved 15 entities as VASPs, including major industry players like Coinbase, Ripple, Gemini, MoonPay, and Zodia.
This approval comes at a time of rapid growth and expanding global presence for Crypto.com. The exchange recently surpassed 100 million users globally, reaching this milestone since its establishment in 2016. This success can be attributed to recent marketing campaigns and partnerships with significant personalities, venues, and events, such as hosting NBA and NHL playoffs at the Crypto.com Arena, and sponsoring the Formula 1 Crypto.com Miami Grand Prix.
Furthermore, the company is actively seeking regulatory approvals in various jurisdictions. In May, Crypto.com obtained a license from Dubai’s Virtual Assets Regulatory Authority to offer institutional crypto trading, with plans to expand its services for retail investors in Dubai.
