Singapore-based digital asset exchange Crypto.com today said that more than 100 million people around the world are now using its services.
Per its press release, this milestone was achieved shortly after the release of Crypto.com’s new brand film, INEVITABLE, which is part of the Fortune Favors the Brave campaign. It also comes hot on the heels of a full operational approval it received from Dubai's Virtual Assets Regulatory Authority (VARA) back in April.
“Positioning our brand through engaging campaigns and iconic partnerships has made Crypto.com a household name,” said Kris Marszlek, CEO of Crypto.com.
“But I’m most proud of the fact that we’ve surpassed the 100 million user milestone while building the most widely regulated platform in the industry by leading in global licenses and registrations. There were no shortcuts to this milestone. It was a team effort, and we will keep building for the next 100 million users.”
Since its founding in 2016, the company has been actively expanding its global compliance registrations, particularly amid growing regulatory scrutiny of the industry.
Over the past year, Crypto.com has had its ups and downs, securing operational approvals in Singapore, France, Brazil, and the U.K., but also dealt with regulatory fines in the Netherlands, staff layoffs, and struggled to keep fiat on-ramps running during last year's banking crisis.
Moreover, Crypto.com hit a roadblock in the South Korean crypto market after local regulators delayed the approval of a local entity's leadership transition. The exchange secured regulatory approval in South Korea in 2022 and planned to launch a retail app on April 29.
“For almost a decade we have been building for the long term – with safety, compliance, and trust at the core. This is what truly distinguishes Crypto.com, and it is reflected in our long term partnerships and our latest film. We have come so far and we are excited about what is ahead,” added Steven Kalifowitz, Chief Marketing Officer of Crypto.com.
Established in 2016, Crypto.com provides an exchange platform, digital wallet, and various other services. The company holds authorization as an Electronic Money Institution from the U.K.'s financial regulator.