Coinspeaker
Crypto.com Officially Joins Adan Association for Crypto and Blockchain Development in France and Europe
Popular Singapore-based cryptocurrency exchange Crypto.com has announced membership of Adan, an association for crypto and blockchain professionals in France and Europe. Joining Adan helps Crypto.com contribute to improving and developing the industry across the region.
“We are proud to become members of Adan as we share similar values and we are aligned on our goals for the crypto industry in France and in the EU region – including our support of the upcoming MiCA regulation. As a member of Adan, we look forward to contributing to industry and regional collaboration to advance responsible innovation and education in Web3,” said Crypto.com President and COO Eric Anziani.
Crypto.com Joins Others in Adan Creating Crypto and Blockchain Frameworks
According to an official Crypto.com press release, Adan represents 200 professionals, comprising new and established players in the crypto space, and is focused on innovation and increased Web3 use cases in the covered areas. Adan helps to develop and catalyze the adoption of frameworks that encourage innovation and promote synergies between all players across varying experience levels. In addition, ADAN helps these players maintain their individual autonomy by removing all obstacles to their growth and competitiveness. In addition to Crypto.com, Adan members include the Ethereum France Association, Binance, Bitpanda, Mastercard, KPMG SA, Luno France, and OKX France, among others.
The Crypto.com exchange prides itself as the industry leader in regulatory compliance and security, committed to supporting crypto adoption via innovation. The exchange recently achieved a significant milestone, reaching more than 100 million users worldwide. According to Crypto.com, this is due to a varied strategy, including specific campaigns like “Inevitable” and “Fortune Favors the Brave”. The user milestone is also credited to high-profile partnerships with sports leagues like the National Hockey League (NHL) and the National Basketball Association (NBA). In addition, Crypto.com sponsored the Formula 1 Miami Grand Prix in May 2022.
Crypto.com Plans Expansion
The exchange is already planning to onboard its next 100 million users. Crypto.com’s APAC head in Melbourne, Karl Mohan, has suggested new products for specific markets to attract more users in these jurisdictions. For instance, Mohan spoke about the Australian market, noting that the country’s crypto industry has been “pivotal” to the company’s success. He then added that Crypto.com intends to expand its presence by offering “industry-leading products to the increasingly mature investor base.”
Last month, Crypto.com secured a full operational license from the Virtual Assets Regulatory Authority (VARA) in Dubai. The license is a major achievement for Crypto.com as it is the first exchange the United Arab Emirates (UAE) allowed to operate with fiat.
The license from VARA supports the company’s goal of onboarding its next 100 million customers, as it can now offer a wide range of products to individual and institutional investors in Dubai. In November 2023, Crypto.com satisfied pre-operational requirements after satisfying VARA’s four-step process, which began in 2022 and involved a provisional permit and preparatory licenses for a Minimal Viable Product (MVP).
