Crypto.com opens Paris HQ

The crypto exchange has launched its headquarters in the French capital after securing formal approval in September.

Crypto.com has confirmed that it will set up a European regional headquarters in Paris, France.

The company is investing $145.7m in the country in a bid to hire local talent, expanding its compliance, business development and product divisions.

Crypto.com currently has more than 50 million users worldwide and is one of the biggest entities to operate in the market.

It received regulatory approval from the French market authority in September and has been building up to this launch for a while, even before the final decision of the regulator.

Faced with hostility from the UK in the past but looking for easier access to the EU market, Crypto.com has not hidden its ambition to base a branch in Europe.

But previous hurdles in other markets have not stopped the company from obtaining the necessary licenses in both the UK and Italy, which have agreed that the company meets all necessary criteria to operate in those markets.

Meanwhile, Binance, another cryptocurrency exchange, was also cleared to launch in France by the market regulator.

Crypto exchanges have chosen France as an alternative to the UK because of an initial hostility they met in the country, mostly over the dubious regulatory status of exchanges.

While the UK has made changes to accommodate crypto companies better, provided that they meet strict regulatory conditions, most big names have moved on to other countries, and France will serve as both Binance and Crypto.com’s base of operation for most the EU.

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Written by Alex

Reporter

Alex is a well-rounded crypto writer who focuses on general market and legal developments. His main interest lies in how crypto gaming can become a more permanent part of the gaming landscape and how blockchain holds benefits to players they are not even aware of.

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