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Crypto.com receives regulatory approval in Cayman

Cryptocurrency platform Crypto.com has received its registration and regulatory approval as a virtual asset service provider (VASP) from the Cayman Islands Monetary Authority.


The three related entities that have obtained a VASP registration are CRO DAX Limited, Foris DAX KY Group and Foris DAX KY Holdings.


The authorisation will allow Crypto.com to offer a suite of products and services in compliance with local regulations.


“This regulatory approval in the Cayman Islands is the latest example of Crypto.com’s commitment to compliance and our constructive approach to regulator engagement,” said Kris Marszalek, co-founder and CEO of Crypto.com, in a press release. “We look forward to expanding our suite of offerings and services available, and continuing to work with stakeholders across sectors on advancing blockchain technology.”


The Singapore-based company says it has more than 50 million users worldwide and 4,000 employees.


Crypto.com has signed a pre-registration undertaking with the Ontario Securities Commission (OSC) in Canada; received in-principle approval for a major payment institution licence in Singapore; and provisional approval of its virtual asset licence in Dubai, as well as registrations in South Korea, Italy, Greece and Cyprus.


Crypto.com is the 11th business that has been granted a VASP registration in Cayman.


HAYVN, a Switzerland- and UAE-based institutional digital currency platform that offers payments, trading, custody and management of digital assets, also received its VASP registration from CIMA in August, through its Cayman company, AC Holding Ltd.


Source: Cayman Compass


IMS is one of the longest established company management firms in the Cayman Islands. IMS is licensed by the Cayman Islands Monetary Authority to provide independent directors, company management and incorporation, mutual fund administration, captive insurance and trust services. For more information about our services, please contact us.


Disclaimer: this publication does not constitute legal or professional advice and should not be relied on as such.

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