Cryptocurrency exchange Crypto.com has received permission to provide services for the exchange and storage of digital assets in South Korea after acquiring two local companies.
The company has acquired payment service provider PnLink Co. Ltd. and virtual asset service provider OK-BIT Co. Ltd. Thus, the exchange now complies with the Law on Electronic Financial Transactions, and has received a license as a virtual asset service provider in South Korea.
“We believe that our services can not only help further develop and expand commerce opportunities in the country, but also build and grow our entire Web3 ecosystem,” said Crypto.com General Manager Patrick Yoon.
The company has previously received approval from the Monetary Authority of Singapore (MAS). Last month, Italy’s top regulator, Organismo Agenti e Mediatori (OAM), also licensed the platform to operate as a virtual asset provider.
Source: Bits
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