Crypto.com Launches Digital Currency Exchange Service in South Korea

Crypto.com, esteemed for serving a global client base that exceeds 80 million users, is poised to introduce its mobile application within South Korea, granting Korean individual investors the means to engage in the trading of a curated list of digital currencies.

Korean retail enthusiasts of Crypto.com will now be furnished with the ability to establish a trading account via the company’s mobile application, which provides accessibility to an array of more than 150 digital currencies. For further details, interested parties can visit the platform’s cryptocurrency trading page.

Membership on the platform will also unlock access to unique NFT collections through Crypto.com NFT, a treasure trove of educational content via Crypto.com University, and a slew of unrivaled rewards and perks for users.

Eric Anziani, the President and COO of Crypto.com, expressed enthusiasm: “With eager anticipation, we unveil the Crypto.com App to our retail clientele in South Korea – a burgeoning market integral to our corporate growth, and where consumer crypto engagement is high. South Korea’s approach to regulatory progress in crypto is commendable, and we’re committed to continued collaboration for the progressive development of the industry.”

In preparation for the app’s release and in adherence to regulatory mandates, Crypto.com has announced a 30-day notice period to the clientele of the recently acquired OK-BIT platform, indicating the cessation of its services on April 29 – coinciding with the official launch date of the Crypto.com mobile application.

Engagement with Regulatory Bodies

Crypto.com’s General Manager for South Korea, Patrick Yoon, also commented: “Korean crypto aficionados are deeply integrated with the market and yearn for regulated, advanced Web3 offerings. We have ventured to tailor our services to meet this market’s specific needs and take great pride in being the premier and most expansive global cryptocurrency exchange to make its entry into the South Korean landscape.”

The launch follows Crypto.com’s attainment of the Electronic Financial Transaction Act (EFTA) and Virtual Asset Service Provider (VASP) registrations in August 2022. The exchange has been diligently fostering partnerships with prominent South Korean entities in finance, entertainment, and technology domains, such as ACT Games, A Story, LINE Xenesis, Studio Dragon, and the Altava Group.

To ensure ongoing compliance with local regulations and maintain adherence to the highest ethical, compliance, and risk management standards, Crypto.com continues its consultations with South Korean regulatory authorities.