Crypto.com Secures EFTA and VSP Registration in South Korea

Crypto.com Secures EFTA and VSP Registration in South Korea

Crypto.com has announced that it has acquired PnLink Co., Ltd. and OK-BIT Co., Ltd. to secure Electronic Financial Transaction Act and Virtual Asset Service Provider registration in South Korea. PnLink Co., Ltd. is a payment service provider, and OK-BIT Co., Ltd. is a virtual asset service provider.

The acquisition is a major milestone in the roadmap of Crypto.com. It highlights its commitment to operating in a region under regulatory compliance. Additionally, it forms a part of the venture’s mission, which aims to be an industry leader for consumer safety, awareness, and protection along with regulatory compliance.

After securing all the relevant registrations, Crypto.com is looking forward to building a direct relationship with the users based in South Korea as a regulated and secured platform.

Kris Marszalek, the Chief Executive Officer & Co-Founder of Crypto.com, called this an exciting step for the company in the market. Kris Marszalek emphasized that the platform was committed to working with regulators to bring its products and services to the South Korean market, where consumers have shown interest in adopting the digital currency.

Patrick Yoon, the General Manager of Crypto.com in South Korea, called the region an important market in advancing blockchain technology.

Patrick Yoon expressed a strong belief in the services of the platform by stating that the services have the capability to evolve and empower commerce in Korea, along with supporting the greater creation and development of its Web3 ecosystem.

Crypto.com is a global cryptocurrency platform that was founded in 2016. Six years later, the platform rides high with over 50 million customers who support the vision of Cryptocurrency in Every Wallet.

The objective of Crypto.com is to accelerate the adoption of cryptocurrency through innovation. Crypto.com looks to empower the next generation of builders, entrepreneurs, and creators by developing a more fair and equitable digital ecosystem. More functionalities and achievements can be read in the Crypto.com review that also highlights the in-depth functioning of the platform.

It is a One-Stop shop platform where users can buy and sell their digital holdings through the official website and mobile application. More than 20 fiat currencies are supported by the platform, making it easier for users to convert their fiat currency into cryptocurrency. Crypto.com Visa Card is available for users to meet their expenses. Users can look into acquiring loans from the platform at a reasonable rate.

What makes Crypto.com one of the most attractive crypto platforms is the feature that allows its users to deposit the crypto holding and earn interest as a passive income. The maximum that interest goes up to is 14%. 

Approvals and registration received in South Korea are in addition to the already received approvals from the Hellenic Capital Market Commission in Greece, Organismo Agenti e Mediatori in Italy, and the Monetary Authority of Singapore, to mention a few.

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