Crypto.com exchange, one of the leading crypto trading platforms in the world, recently announced that it obtained the Electronic Financial Transaction Act and Virtual Asset Service Provider registrations by the acquisition of PnLink Co. Ltd, a payment service provider, and OK-BIT Co. Ltd, a digital asset service provider.
Crypto.com Exchange Official Statements
Kris Marszalek, the Co-founder and CEO of Crypto.com cryptocurrency trading platform, noted in the official press release that:
“This is an exciting next step for Crypto.com in an important market. We 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.”
Patrick Yoon, the General Manager of Crypto.com in South Korea, said:
“We believe our services can not only help further evolve and empower commerce in Korea but also support the greater creation and development of our Web3 ecosystem. Korea is a tremendously important market for Crypto.com in advancing blockchain technology.”
By achieving these registrations, the Crypto.com exchange succeeded in maintaining its top spot in regulatory compliance in the crypto domain. Its aim of consumer safety, raising awareness, and protecting investor rights have been fulfilled as well.
Cronos (CRO) Performance
Cronos (CRO), the native token of the Crypto.com exchange, was in the ‘green’ after the announcement. The Cronos price today was up by 3.27% and traded at $0.1507 at the time of writing on Monday, August 8, 2022. The market capitalization of the CRO coin stood at $3.8 billion, up by 3.29%. In addition, the 24-hour trade volume of the CRO coin also increased by a whopping 72.06% to $20.34 million. It is possible that the news of its native crypto exchange’s achievements in South Korea induced this gain.