Currency.com launches Crypto trading in United States
The Currency.com website will be available to clients in the United States from 1 May 2022.
Currency.com has formally announced its expansion into the United States, with a registration as a Money Services Business with the Financial Crimes Enforcement Network (FinCEN).
The US-based high-growth global crypto exchange will launch in 48 states and territories across the the country and the firm expects to be serving clients in New York and Hawaii in the coming months.
Leveraging the trading platform of CySEC and FCA-regulated broker Capital.com, its sister company, Currency.com saw overall trading activity increase by 445% YoY in 2021, with total trades executed climbing by 409%.
Steve Gregory, Chief Executive Officer, Currency.com, US, said: “Our expansion into the United States represents a milestone moment in the growth of Currency.com as we introduce our simplified, intuitive web-based platform to one of the world’s most mature cryptocurrency markets.
“Ever more people are taking more than a passing interest in cryptocurrencies. As a platform authorised and licensed to provide distributed ledger technology services, Currency.com is well placed to support investors in their journey. Our strong growth put us on track to expand into new markets, diversify the range of products and solutions we offer our clients, and work in close concert with regulators and trade organisations to ensure we continue to provide a secure environment for our clients to buy, sell and trade cryptocurrencies”, Gregory continued.
Currency.com US features a hosted crypto wallet, fiat-to-crypto payment gateways and a fast onboarding process. The firm leverages proprietary machine learning technology to score and assess the risk profile of its clients quickly in order to significantly streamline the typical onboarding journey.
“Lengthy turnaround times and cumbersome registration processes are some of the main sources of frustration for online investors. With Currency.com’s new simplified onboarding, a process that usually takes our competitors a couple of days, will take us just a matter of minutes, if not seconds”, he continued, adding that the mission is to make it easy and safe for everyone to invest in cryptocurrencies.
Currency.com’s fiat-to-crypto capabilities allows users to buy and store digital assets and link their accounts with their bank accounts or use credit cards to seamlessly buy or sell cryptocurrencies.
The launch will start off with Bitcoin followed by other popular cryptocurrencies including Ethereum, Litecoin and Bitcoin Cash as more cryptos are added over time.
The trading platform provides access to news feeds, financial content and analysis from a broad range of education content hosted on the Currency.com website. A mobile-based application will be rolled out in the coming weeks.