Registered as FORIS DAX UK LIMITED, the platform complies with local anti-money laundering (AML) standards.
” We are committed to the UK market and look forward to further developing our platform and presence in the UK by expanding our offering to clients, while continuing to engage with regulators “, commented Kris Marszalek, CEO and co-founder of Crypto.com.
Note that Crypto.com has already built a local team as of March 2022 with several senior recruits in the UK, including the appointment of a UK Managing Director and a Global Head of Sustainability and ESG.
Difficulties in spite of everything
If the arrival in the UK is pretty good news, it comes in a difficult context for the company. Like many other cryptocurrency exchanges, including Coinbase, Crypto.com has been going through some trouble since April and the cryptocurrency crash.
Recently, the company had to lay off some of its staff. About 260 people, or 5% of its workforce, were laid off in June. Another cut is on the way, says a former CEO Crypto.com spoke with Decrypt.
As a reminder, Crypto.com is a company founded in 2016, whose client portfolio currently includes more than 50 million users worldwide. It has experienced rapid growth since its launch, especially with the native token associated with its decentralized and open source blockchain, CRO.
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Interest in this token could increase with a new base of potential buyers in the UK with a positive impact on the price. CRO is currently trading at $0.15.
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