Singapore and Australia – The Hong Kong-based Crypto.com, which runs a branch office in Singapore, has finally secured an Australian Financial Service License last December 2 Wednesday. According to the recent report, Crypto.com acquired the license through a firm called The Card Group Pty Ltd.
Australia’s Foreign Investment Review Board, which examines proposals through foreign entities and Australian investments, has approved Crypto.com. The firm said on Wednesdau that the Hong Kong-based crypto company would work within the local regulatory frameworks. However, no further details regarding the acquisition were discussed.
Crypto.com, which offers affordable and convenient cryptocurrency payment, exchange, and debit cards, has recently announced that its customers can now enjoy Australian dollar transfers. Users can directly deposit the currency to their Fiat Wallet via Crypto.com‘s official mobile application.
With the Australian license in place, the digital exchange platform promises to launch its official debit card in Australia as soon as possible. Crypto.com‘s spokesperson stated that they are very committed to accelerating the world’s transition to cryptocurrency. Crypto.com will work within Australia’s regulatory framework to achieve the company’s mission.
In late November, Crypto.com received Malta Financial Services’ preliminary approval for two financial licenses that will govern how payment companies operate and possible services that they can provide. Since 2016, Crypto.com‘s goal is to have more than five million clients worldwide. Therefore, they push to start domestic issuance of credit cards in different continents. The exchange platform outlined the importance of Crypto.com‘s direct relationship with foreign customers and the international financial system.
Recently, Crypto.com co-founder and CEO Kris Marszalek shared that they are extremely proud to secure an AFSL and look forward to building a strong and healthy relationship with its Australian customers. The AFS license is an essential addition to the company’s growing portfolio of global regulations. Crypto.com mentioned that it is planning to expand services across the region through innovative and accessible products.