Source:https:\/\/techcrunch.com\/2022\/08\/08\/singapore-based-cryptocurrency-exchange-crypto-com-enters-south-korea-via-acquisitions\/<\/a><\/br>
\nSingapore-based cryptocurrency exchange Crypto.com enters South Korea via acquisitions\u00a0<\/br>
\n2023-01-20 22:22:29<\/br><\/p>\n

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Singapore-based cryptocurrency platform Crypto.com<\/a> has acquired two startups in South Korea \u2014 payment service provider PnLink<\/a> and virtual asset provider OK-BIT<\/a> \u2014 for an undisclosed amount, Crypto.com said<\/a>.\u00a0<\/span><\/p>\n

The company also said Monday it has secured registrations under South Korea\u2019s electronic financial transaction act and as a virtual asset service provider.<\/span><\/p>\n

\u201cWe are committed to working with regulators to continue to bring our products and services to market, particularly in countries like South Korea where consumers have shown strong interest and adoption of digital currencies,\u201d said Crypto.com co-founder and chief executive officer Kris Marszalek.\u00a0<\/span><\/p>\n

The news marks a shift for Crypto.com, whose CEO Marszalek said in June that it would <\/span>lay off 260 employees<\/span><\/a>, equivalent to 5% of its workforce, to ensure continued and sustainable growth for the long term.\u00a0<\/span><\/p>\n

The Singaporean company, which has more than 50 million users across the globe, says it wants to build a direct relationship with Korean users. South Korea is an important market for Crypto.com in terms of blockchain technology advancement and high-level crypto interests, said Crypto.com\u2019s South Korea general manager Patrick Yoon.\u00a0<\/span><\/p>\n

Crypto.com had received several approvals to offer crypto exchange products and services, including\u00a0<\/span>in-principle approval from the Monetary Authority of Singapore<\/span><\/a>\u00a0and provisional approval of its virtual asset license\u00a0<\/span>from the Dubai Virtual Asset Regulatory Authority<\/span><\/a>\u00a0in June, as well as\u00a0<\/span>regulatory approval from the Cyprus Securities and Exchange Commission<\/span><\/a>\u00a0in July.\u00a0<\/span><\/p>\n<\/p><\/div>\n

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Tech, Technology<\/br>
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\nSource:https:\/\/techcrunch.com\/2022\/08\/08\/singapore-based-cryptocurrency-exchange-crypto-com-enters-south-korea-via-acquisitions\/<\/a><\/br><\/br><\/p>\n","protected":false},"excerpt":{"rendered":"

Source:https:\/\/techcrunch.com\/2022\/08\/08\/singapore-based-cryptocurrency-exchange-crypto-com-enters-south-korea-via-acquisitions\/ Singapore-based cryptocurrency exchange Crypto.com enters South Korea via acquisitions\u00a0 2023-01-20 22:22:29 Singapore-based cryptocurrency platform Crypto.com has acquired two startups in South Korea \u2014 payment service provider PnLink and virtual asset provider OK-BIT \u2014 for an undisclosed amount, Crypto.com said.\u00a0 The company also said Monday it has secured registrations under South Korea\u2019s electronic financial transaction […]<\/p>\n","protected":false},"author":1,"featured_media":15814,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","om_disable_all_campaigns":false,"pagelayer_contact_templates":[],"_pagelayer_content":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[17,8],"tags":[],"class_list":["post-15813","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-tech","category-technology"],"yoast_head":"\n