The crypto.com exchange invested 150 million euros in France. Crypto.com presence in Paris It will lead to the expansion of this exchange in the European continent.
Binance It is not the only international encryption company present in France. crypto.com exchange In a statement, it announced that it will soon establish its regional headquarters in Paris.
Read more: The future of digital currencies in 2022
Crypto.com presence in Paris
Digital currency exchange Crypto.com announced in a statement on Wednesday that it has invested 150 million euros ($145.3 million) in France.
This amount is for setting up European headquarters in Paris And local talents are hired in different fields. Among these fields, we can mention the field of compliance, business and product development. The French market authority known as the AMF last month issued a legal license to Crypto.com and registered the exchange as a digital asset service provider.
Eric Anziani CEO of Crypto.com It stated that the company is keen to engage with stakeholders across sectors. This will facilitate the new digital economy in France.
Crypto.com exchange force adjustment
According to official statistics, more than 50 million people use Crypto.com products. In addition to its main services, crypto.com exchange will also offer its French customers Visa debit card and native Cronos token.
Crypto.com Like FTX, it deals with sports recovery. Crypto.com announced earlier this year that next month Sponsor of the World Cup will be. Crypto.com exchange last year signed a $100 million deal with the tournament Formula 1 signed Among other contracts of Crypto.com, we can mention the contract of Philadelphia ers and Ultimate Fighting Championship.
This year, Crypto.com made some layoffs. In June, 5% of the company’s employees were fired. Crypto.com announced in an interview with Decrypt two months later that it would soon lay off more employees. The main reason for retrenchment by large companies in the field of digital currencies is the stagnation of financial markets.
Expansion of Crypto.com activity in Europe
The presence of Crypto.com in Paris will lead to the renewed growth of this exchange. Crypto.com plans to significantly expand its operations on the European continent. Binance exchange, the world’s largest digital currency exchange also received a license to operate in France in May. This move makes France the first European country to allow Binance to operate in its jurisdiction.
In April, Changpeng Zhao, the CEO of Binance, supported France’s economic policies towards cryptocurrencies. According to CZ, the French government is very knowledgeable about cryptocurrencies. An official of the Ministry of Finance announced that France is trying to support the development of the digital currency industry.
The French central bank tested cryptocurrencies in a series of government bond deals last year.
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Source: decrypt