The Singaporean crypto exchange CryptoCom jumped into the South Korean crypto industry with the acquisition of two Korean local companies.
CryptoCom is a popular crypto exchange, which provides secured crypto trading & wallet services for crypto users. The exchange usually promotes its services in the sports industry, for example, CryptoCom is the official sponsor partner of FFIFA World Cup 2022.
On 8 August, CryptoCom published a new blog post and confirmed that the company officially jumped into the crypto industry of South Korea.
Through the post, CryptoCom stated that Exchange completed the purchase of payment service provider PnLink Co. and virtual asset service provider OK-BIT Co.
So, here PnLink will provide payment services for CryptoCom and OK-Bit will provide crypto services. So there are full chances that CryptoCom will soon provide crypto-fiat trade services for the Korean population because CryptoCom is now a fully licensed crypto company in South Korea.
Kris Marszalek, Co-Founder, and CEO of Crypto.com said that the latest acquisition was an important step for the company because working under the high compliance ecosystem is very necessary. In particular, CryptoCom’s CEO said that the interest of Korean citizens is very high, So there is a need to provide high-quality services under the precise regulatory framework.
CryptoCom co-founder also said that the exchange will not only focus on expanding its business in Korea but also it will work in other sectors like Web3 development works, to support the innovative development works.
At present time, CryptoCom handles a total of 50 million crypto customers globally. Recently in July, CryptoCom announced that the exchange secured a crypto license in Italy to provide crypto services to Italian crypto Investors. The Italian money laundering agency Organismo Agenti e Mediatori (OAM) issued that license for this exchange.