Crypto.com has received registration approval from the UK Financial Conduct Authority, also known as FCA. It will now continue its operations in the region by offering its products and services to customers in the United Kingdom. All the products and services will now comply with local regulations.
Crypto.com is growing faster, and receiving approvals from FCA makes it easier for the venture to continue moving on with its plans to expand across the globe.
Kris Marszalek, a Co-Founder & Chief Executive Officer of Crypto.com, called this a significant milestone for the company as the United Kingdom represents a major market in the cryptocurrency industry. Kris Marszalek said the approval came at the right time when the UK government is looking to push the agenda of making Britain the hub for crypto asset technology and investment.
He has committed to expanding further in the region by developing the platform and presence in the United Kingdom through different offerings that comply with the regulators.
The United Kingdom is definitely a major market when it comes to cryptocurrency. The location has registered a record growth of 650% in the adoption of digital currency between 2018 and 2021. The figure and duration are as they were quoted by BanklessTimes.
Candidates in the region also possess the greater talent to work in the industry. Therefore, Crypto.com went ahead to hire a UK General Manager & Global Head of Sustainability – ESG.
Crypto.com, as a company, is growing faster by expanding its ecosystem in various regions. It now has more than 50 million users at the time of drafting this article. Operations of the venture in all the regions are governed by the respective regulations.
It was founded in 2016 to sport the vision of having cryptocurrency in Every Wallet. The platform is built on the grounds of privacy, security, and compliance.
Crypto.com now looks forward to empowering the new generation, thereby accelerating cryptocurrency adoption. Builders and developers can always try their hands at developing an ecosystem that is fair and more equitable.
A minimum of $200 is stated as the minimum deposit that users must make to start trading their digital holdings.
Perks of Crypto.com include:-
- One-Stop-Shop
- Easy conversion of money
- Low fees
- Interest earning facility
- Cashback rewards
Learn about these perks in detail at the Crypto.com Exchange review that also draws a comparison of the pros and cons of the platform.
The interest rate on the platform varies and goes up to 6.5% per annum. Fees for withdrawing funds differ based on which cryptocurrency is being dealt with.
The verification process takes a maximum of 5 minutes, following which the user can start working on the platform. Users can buy and sell over 100 cryptocurrencies by opening an account at no fees.
Source: https://www.cryptonewsz.com/crypto-com-gets-regulatory-approval-from-the-fca-in-the-uk/