Singapore-based digital currency trading platform Crypto.com is making significant progress in its push to establish its brands in France. following receipt of the digital asset service provider (DASP) license by the Autorité des marchés financiers (AMF) last month.

In its latest announcement, the trading platform said it will inject the sum of $150 million to build its headquarters in the country, while also making significant investments to establish its brand in the region.

“We are incredibly excited to solidify our commitment to France and Europe through the establishment of our regional headquarters in Paris,” said Eric Anziani, Crypto.com COO. “Our regulatory approval was the first important step in our journey in France, and we look forward to continuing to engage with stakeholders from all sectors to help facilitate the new digital economy in France and provide customers with a best-in-class crypto experience.” .

Crypto.com has done a lot to promote its brand as it has been looking to aggressively expand into new markets. The approval received from the AMF is just one of its direct licenses to operate in the European region considering that it has also intervened related licenses from Italy, Greece and Cyprus, among others.

the exchange has also been making a notable push in other regions and as reported Per Blockchain.News, it gained approvals to operate in the United Kingdom, Australia, Dubai, and Singapore.

The exchange has had a tough time this year as it experienced a hacking event earlier in the year and also laid off staff due to the crypto winter that started with the collapse of LUNA and algorithmic stablecoin UST, both of which are connected to Terraform Labs. .

With the allocated funds of $150 million, Crypto.com plans to hire local talent, a move that will also contribute to its core mission of deepening its ties in the country.

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