This development enables retail users in the South Korean market to engage in trading select cryptocurrencies.
Through the Crypto.com App, retail customers can easily open cryptocurrency trading accounts, gaining access to over 150 cryptocurrencies. The platform boasts top-tier security features and holds necessary licensing. Additionally, users will enjoy access to exclusive NFT projects via Crypto.com NFT, educational resources via Crypto.com University, and industry-leading user benefits and rewards.
Representatives of Crypto.com, expressed excitement about the launch, highlighting South Korea's significance in the company's growth strategy. They also acknowledged the thoughtful approach of South Korean regulators in advancing the crypto sector and expressed the company's commitment to responsible growth.
In compliance with regulations, Crypto.com has provided a 30-day notice to users of its acquired OK-BIT platform, informing them of the cessation of services effective April 29th, coinciding with the launch of the Crypto.com App.
Representatives in South Korea emphasized the high level of engagement among local crypto enthusiasts and the demand for regulated Web3 products and services. They highlighted the company's tailored offering for the South Korean market and its status as the first and largest global cryptocurrency exchange to launch in South Korea.
This launch marks another milestone for Crypto.com in South Korea, following its acquisition of Electronic Financial Transaction Act (EFTA) and Virtual Asset Service Provider (VASP) registrations in August 2022. The company has also established partnerships with leading financial, entertainment, and technology brands in the region.
Established in 2016, Crypto.com has earned the trust of 80+ million customers worldwide and is recognised as a leader in regulatory compliance, security, and privacy certifications. The company is dedicated to accelerating cryptocurrency adoption through innovation, striving towards its vision of Cryptocurrency in Every Wallet™.
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