Crypto.com announces its entry into the South Korean market

Crypto.com has announced that it is entering the South Korean market effective April 29, 2024. It will offer select cryptocurrencies to retail users, empowering them to trade the token after registering with the platform. Crypto.com has expressed its commitment to the full-fledged provision of security and privacy, two aspects that have helped it gain more than 80 million customers across the globe.

Over 150 cryptocurrencies will be available on the platform, along with educational resources via Crypto.com University. The latter includes education and resource material, to be more specific. The NFT segment will also make its debut in South Korea under the umbrella. However, it will be through Crypto.com NFT which will bring the leading NFT projects to the floor and make them available. The platform is supported by security features and licensing, instilling a sense of confidence in the minds of users.

OK-BIT, effective the same day, will cease its operations. Crypto.com did the needful by serving a 30-day notice to the users of the acquired platform, informing them about the transition.

Eric Anziani, the Chief Operating Officer and President of Crypto.com said that they are excited to launch their app in South Korea, adding that the market has tremendous potential to grow their business. Eric has further highlighted that the South Korean authorities are being thoughtful in advancing the sector, and they will continue collaborating with them to help grow the sphere.

Patrick Yoon, the general manager at Crypto.com, said that they have spent considerable resources and time customizing their services and products for the South Korean market. Potentially signaling that what is brought to the floor will better suit the customers in the region. Patrick has acknowledged that the users in the region have demonstrated their high engagement with the industry and are certainly more eager to engage in a larger number of Web3 products and services.

Moving forward, Crypto.com has said that the platform will interact with regulators and authorities to ensure that it complies with local regulations and laws while maintaining high standards of ethics and risk management.

An entry in South Korea marks a new milestone for the Crypto.com exchange after it secured EFTA and VASP registrations in August 2022. It has previously established several MoUs with the likes of LINE Xenesis, ACT Games, and Altava Group, among others.

Interested users can get started with Crypto.com to claim one or multiple perks, including a one-stop shop, low fees, and easy conversion. Some of the products of the platform that users can look forward to are the Crypto.com App, Crypto.com NFT, Crypto.com Metal Visa Card, Crypto.com Pay, and Crypto.com Crypto Earn. The actual offering may vary at the time of the platform launch.

Roxanne Williams

Roxanne Williams has recently joined as a market reporter for CryptoNewsZ - the 24/7 crypto news site, where she produces recent stories, technical analysis and price updates on world's leading cryptocurrencies.

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