Crypto.com has recently received approval as a Virtual Asset Service Provider (VASP) from the Central Bank of Ireland, marking a significant milestone in the cryptocurrency industry in the country. This approval will allow Crypto.com to expand its services, offering crypto-to-fiat exchanges and fiat wallets to its customers.
Joining a select group of regulated crypto firms in Ireland, Crypto.com now stands alongside prominent industry players such as Coinbase, Ripple, Gemini exchange by the Winklevoss brothers, MoonPay, and Zodia custody platform by Standard Chartered. With the Central Bank of Ireland approving a total of 15 VASPs as of June 7, it demonstrates the country’s progressive approach towards digital asset regulation.
In addition to its approval in Ireland, Crypto.com has also achieved full operational approval from the Virtual Assets Regulatory Authority (VARA) in Dubai. This milestone allows Crypto.com to offer services targeting institutional investors, making it the first global crypto exchange authorized to operate with fiat currency in the UAE.
Furthermore, Crypto.com has obtained other important licenses, including a Major Payment Institution (MPI) license for Digital Payment Token (DPT) services from the Monetary Authority of Singapore and registration as a Digital Asset Service Provider (DASP) by the Autorité des marchés financiers (AMF) in France. The company also plans to launch new products for retail customers, such as the Crypto.com App, and has received Electronic Money Institution (EMI) authorization from the UK’s Financial Conduct Authority (FCA).
Despite some crypto firms opting to exit the Irish market, Ireland continues to attract major companies like Coinbase, which have selected the country as their European crypto hub in compliance with the Markets in Crypto-Assets Regulation (MiCA). Crypto.com’s recent approvals and expansions signal a growing presence in the global cryptocurrency market.
