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Crypto.com Expands to South Korea: Launches Trading App for Retail Users

FinanceFeeds Editorial Team

Crypto.com, renowned for its commitment to regulatory compliance, security, and privacy, and serving over 80 million customers globally, announced the launch of its app in South Korea. This move enables Korean retail users to engage in trading selected cryptocurrencies.

Crypto KOREA

Crypto.com is offering retail customers the opportunity to create an account for cryptocurrency trading within the Crypto.com App, granting them access to a diverse portfolio of over 150 cryptocurrencies. This platform is equipped with leading security features and proper licensing. Additionally, users will gain access to unique NFT projects through Crypto.com NFT, a wealth of educational resources via Crypto.com University, and a suite of unmatched user benefits and rewards.

“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,” said Eric Anziani, President and Chief Operating Officer of Crypto.com. “South Korean regulators are thoughtfully advancing the sector and we look forward to continuing to collaborate with them to help grow the industry responsibly.”

In preparation for the app launch and to comply with regulatory guidelines, Crypto.com has informed users of its previously acquired OK-BIT platform about the discontinuation of its services effective April 29th – the official launch date of the Crypto.com App.

Crypto.com is actively engaging with South Korean regulatory bodies to align with local laws and uphold the highest standards of ethics, compliance, and risk management.

“South Korean crypto enthusiasts are highly engaged with the market and eager for more comprehensive and regulated Web3 products and services,” said Patrick Yoon, General Manager of Crypto.com South Korea. “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.”

This launch marks a significant achievement for Crypto.com in South Korea, following its successful registration under the Electronic Financial Transaction Act (EFTA) and as a Virtual Asset Service Provider (VASP) in August 2022. The company has also formed multiple Memorandums of Understanding (MoUs) with leading entities in finance, entertainment, and technology, including ACT Games, A Story, LINE Xenesis, Studio Dragon, Altava Group, among others.

Since its inception in 2016, Crypto.com has established itself as a leading entity in the crypto space, prioritizing regulatory compliance, security, and privacy. With the mission of ‘Cryptocurrency in Every Wallet™,’ Crypto.com continues to drive cryptocurrency adoption forward through continuous innovation.

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