The Central Bank of Ireland (CBI) has approved Crypto.com, one of the world’s largest crypto trading platforms, as a virtual asset services provider (VASP). This approval allows Crypto.com to expand its offering in Ireland, including crypto-to-fiat exchanges and fiat wallets.
14 entities have now received approval
Crypto.com president and chief operating officer Eric Anziani stated that the approval highlights the company’s commitment to compliance and responsible innovation. “We are excited to broaden our offering in Ireland, allowing consumers to participate in the most comprehensive crypto product offering,” he added.
Crypto.com has not yet provided any additional comment on the details of the new crypto services enabled in Ireland by the VASP approval.
With this approval, Crypto.com joins other regulated crypto companies in Ireland, including US-based crypto exchange Coinbase.
The full list of registered VASPs in Ireland includes 14 entities as of June 7, including big names such as Ripple, the Gemini exchange, MoonPay, Standard Chartered’s Zodia custody platform, and Paysafe. In 2023, seven companies received approvals in Ireland, with four more in 2024, including Foris DAX Global, Fortuna Digital Custody, Ramp Swaps and Crypto.com.
New milestone marked
The approval of Crypto.com by the Central Bank of Ireland marks another milestone in the country’s growing interest in the crypto industry. Coinbase, the largest crypto exchange in the US by trading volumes, selected Ireland as its European crypto hub in late 2023 to comply with the European cryptocurrency regulatory framework, the Markets in Crypto-Assets Regulation.
Other major companies, such as Ripple and Gemini, have also consolidated their presence in Ireland while facing challenges from US regulators. On the other hand, Circle Internet Financial, the company behind the world’s second largest stablecoin USD Coin, announced plans to return to the US and move away from Ireland in May 2024.
Source: https://newsbit.nl/crypto-com-krijgt-goedkeuring-van-centrale-bank-van-ierland-als-vasp/
