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Crypto.com Secures Australian Financial Service License
Crypto.com has secured an Australian Financial Service License through its acquisition of The Card Group.
Hong Kong-based Crypto.com has secured an Australian Financial Service License through its acquisition of a firm called The Card Group Pty Ltd.
STORY CONTINUES BELOW
- The license has been approved by Australia’s Foreign Investment Review Board, which examines proposals by foreign entities to invest in Australia and will allow Crypto.com to work within the local regulatory frameworks, the firm said Tuesday.
- No details on the acquisition were provided after a CoinDesk request for information.
- Crypto.com – which offers cryptocurrency exchange, payments and debits cards – recently announced support for Australian dollar transfers by allowing its users to directly deposit the currency to their Fiat Wallet via the app.
- With the license in place, Crypto.com said it plans to launch its debit card in Australia going forward.
- "We are committed to accelerating the world’s transition to cryptocurrency; working within the regulatory frameworks of the markets we operate in is a key pillar of achieving our mission," said Kris Marszalek, Crypto.com CEO.
- In late November, Crypto.com received preliminary approval from the Malta Financial Services Authority for two financial licenses that govern how payment companies operate and what services they can provide.
Also read: Australia and Singapore to Trial ‘Paperless’ Trade Using Blockchain Technology
Tanzeel Akhtar
Tanzeel Akhtar has contributed to The Wall Street Journal, BBC, Bloomberg, CNBC, Forbes Africa, Financial Times, The Street, Citywire, Investing.com, Euromoney, Yahoo! Finance, Benzinga, Kitco News, African Business Magazine, Hedge Week, Campden Family Office, Modern Investor, Spear's Wealth Management Magazine, Global Investor, ETF.com, ETF Stream, CIO UK, Funds Global Asia, Portfolio Institutional, Interactive Investor, Bitcoin Magazine, CryptoNews.com, Bitcoin.com, The Local, The Next Web, Mining Journal, Money Marketing, Marketing Week and more. Tanzeel trained as a foreign correspondent at the University of Helsinki, Finland and newspaper journalist at the University of Central Lancashire, UK. She holds a BA (Honours) in English Literature from the Manchester Metropolitan University, UK and completed a semester abroad as an ERASMUS student at the National and Kapodistrian University of Athens, Greece. She is NCTJ Qualified - Media Law, Public Administration and passed the Shorthand 100WPM with distinction. She does not currently hold value in any digital currencies or projects.
