Crypto.com Chooses Paris for European Headquarters After €150 Million Investment QuoteCoin
New York City: The major cryptocurrency trading platform Crypto.com has announced that the French capital city of Paris will serve as the location of its new European regional headquarters.
According to a blog post that was published on Wednesday, the exchange has also stated that it would be investing €150 million ($145 million) into the nation in order to assist the development of a regional headquarters as well as other market activities.
The move comes after Crypto.com was granted regulatory approval in the country. The company did so by registering with France’s stock market regulator, the Autorité des marchés financiers (AMF), as a Digital Asset Service Provider (DASP), and by gaining clearance from France’s Autorité de Contrôle Prudentiel et de Résolution (ACPR).
In addition to the building of its EU headquarters, the investment will be used to acquire native talent in France to concentrate on business growth, compliance, and product. This will allow the company to better serve its customers. In addition, the exchange strives to increase its “in-market brand presence through activating consumers and engaging them in educational programming.”
Crypto.com is one of the biggest cryptocurrency trading platforms in the world, with more than 50 million individuals registered on the site. With a trading volume of more than $236 million over the course of the previous twenty-four hours, the cryptocurrency exchange has been ranked as the twelfth biggest crypto platform in terms of volume by CoinGecko.
Binance has just invested €100 million in the French economy
There are several exchanges in addition to Crypto.com that are ramping up their presence in Europe, and particularly in France. According to recent reports, cryptocurrency exchange Binance has continued to strengthen its ties with the nation, while the company’s CEO, Changpeng Zhao (CZ), has referred to the city of Paris as the financial capital of crypto in Europe.
