The Central Bank of Ireland (CBI) has granted approval to another significant cryptocurrency company, Crypto.com, as a virtual asset service provider (VASP).
On June 11, Crypto.com, one of the largest crypto trading platforms globally, announced its VASP approval in Ireland.
This approval enables Crypto.com to enhance its services in the country, including crypto-to-fiat exchanges and fiat wallets.
Eric Anziani, Crypto.com’s president and chief operating officer, stated that this approval underscores the company’s dedication to compliance and responsible innovation.
“We are excited to broaden our offering in Ireland, enabling consumers to engage with the most comprehensive crypto product offering,” Anziani said.
Crypto.com declined to provide specifics to Cointelegraph about the new crypto services made possible in Ireland with this latest VASP approval.
Ireland has now approved 15 entities as VASPs.
With this approval, Crypto.com joins a group of regulated crypto firms in the country, including the U.S.-based crypto exchange Coinbase.
READ MORE: PEPE Falls 32.6%, Potential Buying Opportunity Amid Bullish Signals
As of June 7, the complete list of registered VASPs in Ireland includes 14 entities, featuring prominent industry players such as Ripple, Gemini exchange by the Winklevoss brothers, MoonPay, Standard Chartered’s Zodia custody platform, Paysafe, and others.
In 2023, seven companies on this list received approvals in Ireland. In 2024, the CBI approved four more firms, including Foris DAX Global, Fortuna Digital Custody, Ramp Swaps, and Crypto.com.
The Central Bank of Ireland’s approval of Crypto.com signifies another milestone in the country’s growing interest in the cryptocurrency industry.
In late 2023, Coinbase, the largest U.S. crypto exchange by trading volume, chose Ireland as its European crypto hub.
This decision aimed to help Coinbase comply with Europe’s comprehensive cryptocurrency regulatory framework, the Markets in Crypto-Assets Regulation.
Other major companies, such as Ripple and Gemini, have also been strengthening their presence in Ireland while facing challenges from U.S. regulators.
Conversely, Circle Internet Financial, the company behind USD Coin, the world’s second-largest stablecoin, announced in May 2024 its plans to return to the U.S. and exit Ireland.
To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.
