Crypto.com is licensed by the Central Bank of Ireland
The Central Bank of Ireland (CBI) has commented on another major crypto.com company as a virtual asset service provider (VASP).
Crypto.com, one of the world's largest crypto trading platforms, announced on June 11 that it has obtained a VASP license in Ireland. The approval allows Crypto.com to expand its offerings in the country, including crypto-to-fiat exchanges and fiat wallets.
Eric Anziani, president and chief operating officer of Crypto.com, said the approval demonstrates the company's commitment to compliance and responsible innovation.
“We are excited to expand our offering in Ireland, allowing consumers to engage with the most comprehensive crypto product offering,” Exeter added.
Crypto.com declined to comment to Cointelegraph about the details of the new crypto services that recently activated VASP licensing in Ireland.
Ireland has approved 15 entities as VASPs.
Upon approval, Crypto.com will join a number of crypto organizations run by the country's central bank, including US-based crypto exchange Coinbase.
The full list of VASPs registered in Ireland shows 14 entities as of June 7, including Ripple, Winklevoss Brothers' Gemini Exchange, MoonPay, Standard Chartered's Zodia Security Platform, Paysafe and others.
Seven companies on the list have received approval in Ireland by 2023. By 2024, the CBI has approved four others, including Force DAX Global, Fortuna Digital Protection, Ramp Swaps and Crypto.com.
Some crypto companies have chosen to leave Ireland
The Central Bank of Ireland's approval of Crypto.com is another milestone in the country's growing interest in the crypto industry.
Coinbase, the largest crypto exchange in the United States, has chosen Ireland as its European cryptocurrency exchange by the end of 2023.
Coinbase has chosen Ireland to help its markets comply with Europe's main cryptocurrency regulatory framework, the Crypto-Assets Regulation.
Related: EU Innovation Center criticizes privacy coins and crypto mix in new report.
Other big companies, including Ripple and Gemini, have been in trouble with US regulators over their presence in Ireland.
Meanwhile, Circle Internet Financial — the company behind the world's second largest stablecoin, USD Coin (USDC) — has announced plans to return to the US and exit Ireland in May 2024.
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