Good news for cryptocurrency enthusiasts in France. After obtaining regulatory approval in many European countries, Crypto.com makes a decision that will undoubtedly delight French crypto addicts: the choice of the geographical position of its European headquarters.
Crypto.com unpacks its regional headquarters in Paris
The announcement dropped today. On October 12, the Singapore-based cryptocurrency exchange will set up its regional headquarters in Paris. According to the press release, the company will invest 150 million euros in France to support its market operations.
To reinforce the effect of this statement, Crypto.com added that it intends to hire local talent in the areas of social development, compliance and products. Currently, many exchanges are vying for place in the market. Even if Binance keeps the first position by far, Crypto.com grows a little more every day and does everything to respect the decentralized and transparent side of cryptocurrencies.
Indeed, the crypto company already has more than 50 million users around the world. Earlier this year it received regulatory approval in Italy and the UK. However, it is not the only one to be regulated in France since in May, the Changpeng Zhao crypto exchange registered with the French market regulator.
However, the exchange takes a giant leap ahead of Binance with the opening of this regional headquarters. According to the statements of David Prinçay of the general manager of Binance France, the CZ platform is still seeking to obtain an official license for the installation of a head office on French soil. With the rather tough competition plaguing the crypto ecosystem, the digital asset servicing business is on a roll.
Recall that Crypto.com only obtained regulatory approval from the French market authority last month. And a month later, the exchange is already setting up a regional headquarters there. To believe that offering his products and services is not enough, a physical presence is essential and he makes it clear.
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