Cryptocurrency exchange Crypto.com has announced the official launch of the Crypto.com App in South Korea.
The launch of the app enables Korean retail users to trade cryptocurrencies such as Bitcoin, Ethe, DOGE, and over 150 more via opening an account which is supported by “best-in-class” security and compliance features.
Users will also have access to exclusive NFT projects via Crypto.com NFT, educational and resource materials via Crypto.com University, as well as user benefits and rewards offerings.
Eric Anziani, President and COO of Crypto.com, said: “We are incredibly excited to be launching the Crypto.com App for retail users in South Korea – a market of tremendous importance to the growth of our business, and one in which consumers are very interested in crypto.
“South Korean regulators are thoughtfully advancing the sector and we look forward to continuing to collaborate with them to help grow the industry responsibly.”
As part of the app launch and in line with South Korean regulations, Crypto.com gave 30-days notice to users of its acquired OK-BIT platform that it was ceasing services as on 29 April, when the Crypto.com App will go live in the country.
Crypto.com has stated it will continue to consult with the South Korean regulatory authorities to ensure compliance with local laws and regulations with the highest standards of ethics, compliance and risk management.
Patrick Yoon, General Manager of Crypto.com South Korea, added: “South Korean crypto enthusiasts are highly engaged with the market and eager for more comprehensive and regulated Web3 products and services.
“We spent significant time and resources tailoring our offering for this market and are honoured to be the first and largest global cryptocurrency exchange to launch in South Korea.”
South Korea becomes the latest market that Crypto.com has received regulatory clearance for its range of crypto-based products and offerings.
The exchange has so far received clearances in the UK, Spain, Singapore, as well as securing various Memorandum of Understanding’s (MoUs) with leading financial services and technology companies.
