Hong Kong-based renowned exchange Crypto.com has secured an Australian Financial Service License via its acquisition of a firm referred to as The Card Group Pty Ltd.
The license has been approved by Australia’s Foreign Investment Review Board that examines proposals by foreign entities to take a position in Australia and will permit Crypto.com to operate within the local regulatory frameworks, the firm recently revealed.
Crypto.com – offers a variety of services along with cryptocurrency exchange, payments, and debits cards – recently announced support for Australian dollar transfers by permitting its users to directly deposit the currency to their Fiat Wallet via the application.
With the license in situ, Crypto.com revealed that it now plans to launch its crypto debit card services in Australia in some time.
“We are committed to accelerating the world’s transition to cryptocurrency; working within the regulatory frameworks of the markets we operate in maybe a key pillar of achieving our mission,” added Kris Marszalek, Crypto.com CEO.
Also earlier in November, Crypto.com received preliminary approval from the Malta FSA [Financial Services Authority] for 2 financial licenses that govern how payment firms operate and what services they offer.