Crypto.com’s €150 Million Investment for Its New European Headquarters
As cryptocurrency adoption continues to rise, crypto firms and exchanges are expanding aggressively. Crypto.com strengthens its position in the crypto industry by selecting Paris, France, as the location for its European Regional headquarters. This move builds upon the recent regulatory approval it received from AMF last month, following a thorough evaluation as a Digital Asset Provider.
Crypto.com has committed to investing over 150 million Euros in France to establish its European headquarters. The company is also planning to demonstrate its long-term dedication to the region by hiring local talent. This talent will lead efforts in compliance, business development, and product management. Additionally, the company will focus on promoting brand growth in France through consumer engagement, activations, and education.
CryptoChipy recently spoke with Eric Anziani, Chief Operating Officer (COO) of Crypto.com, who shared insights into the company’s latest move. Anziani expressed the company’s intent to engage with various stakeholders in France’s growing digital economy. He acknowledged that securing regulatory approval was the first step in entering the French market, allowing French citizens and residents to access a world-class crypto experience.
This news comes as an exciting development for crypto enthusiasts in Europe, especially given the ongoing discussions surrounding cryptocurrency regulation in the region. French users are eager to work with Crypto.com, one of the largest digital asset exchanges globally, with over 50 million users.
Crypto.Com’s Persistent Expansion into Europe
Since its launch in 2016, Crypto.com has grown in popularity, especially due to its user-friendly mobile app that allows users to buy and sell cryptocurrencies with ease using direct fiat onramps. Additionally, Crypto.com offers a VISA debit card and access to its native token, Cronos.
Despite facing recent scrutiny, Crypto.com has expanded rapidly, introducing new features such as an auto top-up feature for cardholders. The exchange has also recently added support for Google Pay and Apple Pay for Crypto.com Visa Card users in Canada.
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Crypto.com has marked several significant achievements this year, as reported by CryptoChipy. These include securing regulatory approval in multiple countries, such as the United Kingdom, Italy, Cyprus, South Korea, and Dubai. These developments align with the company’s ambition to expand into the European market and beyond. Crypto.com has also followed the example of its competitor, FTX, by investing heavily in sports marketing. In 2021, it entered into major sponsorship deals with the English Premier League, NASCAR, and the Formula One division of Aston Martin, valued at $100 million. The company also announced its sponsorship of the FIFA World Cup in Qatar later this year and has secured partnerships with the NBA’s Philadelphia 76ers and the Ultimate Fighting Championship.
Crypto.com’s announcement to set up its headquarters in Paris comes after Binance, the world’s largest crypto exchange, also secured a license as a digital asset service provider in France in May. France became the first European country to bring Binance under its jurisdiction. At the time, Binance CEO Changpeng Zhao praised the country’s pro-crypto regulations, positioning France as a potential leader of the crypto industry in Europe. Several exchanges, including Crypto.com, are now eager to tap into France’s potential.
Global firms and exchanges are increasingly recognizing the opportunities within the European market, a region that has often been overshadowed by the Asian market. Crypto.com’s latest success in obtaining regulatory approval further underscores its commitment to expanding its influence in the region.
