Crypto platform Crypto.com has announced a €150 million investment into France to support its operations in the country. This includes the establishment of a headquarters in Paris as its base of operations in Europe.
Aside from the establishment of its EU headquarters in the capital city, Crypto.com will also seek to hire local talent to focus on compliance, business development, and product along with funding marketing efforts in the region, Reuters reported on Oct. 12.
The cryptocurrency exchange platform, which has more than 50 million users worldwide, will also set up its European regional headquarters in Paris.
“We are incredibly excited to cement our commitment to France and Europe through the establishment of our regional headquarters in Paris,” Crypto.com COO Eric Anziani said in the announcement.
Recently, Crypto.com won approval from the French regulator to operate as a Digital Asset Service Provider (DASP). Along with France, the company also got regulatory approval in Italy and in the United Kingdom this year.
Aside from Crypto.com, other global crypto exchanges, such as Binance and Luno, have procured licenses in France while the country seeks to become a blockchain technology hub. In particular, Binance announced a €100 million investment into France, stating it as “uniquely positioned to be the leader of this industry in Europe.”