As Crypto.com has already identified the future of the crypto market, the company now plans on entering South Korea through its two new acquisitions. Several crypto exchange firms are reeling from hefty losses incurred in the past few months amidst bearish tension. But, crypto.com is shining brighter and planning on expansion.
On Monday, Crypto.com, with its headquarters in Singapore, made an announcement that it was acquiring OK-Bit-Co., which is a digital asset exchange, and PnLinkCo., which is a payment-providing platform.
According to our sources, the new acquisitions unveiled by Crypto.com suggest that the company has cracked a deal with the e-Financial Transaction Act. The Act is preparing the basis for forming the foundation of an electronically operated financial sector. Not only this, but Crypto.com also secured its position to operate as a digital asset service provider.
Eric Anziani, the CEO of Crypto.com, has talked about the company’s victory through his Twitter handle. Anziani spoke about his visit to the Seoul office of Crypto.com and how the company’s employees have contributed much to registering as an e-financial gateway and digital asset service provider in South Korea.
What could be the main agenda of crypto.com in acquiring two South Korean platforms?
Crypto.com has been on a world tour lately—last month, it received a green signal and approval of regulations from Cyprus and Italy, and its expansion across Europe has been a successful venture.
Now, the company looks toward South Korea to capture its audience base. However, as South Korean users have had a tough time dealing with the major crypto losses in the last few months, the regulations have been stricter than usual to ensure the safety and security of the country’s users.