Crypto.com investing 150 million in Paris for its European Headquarters! | Crypto

Crypto.com investing 150 million in Paris for its European Headquarters!

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-Crypto.com will establish its European regional headquarters in the capital city of France, Paris.
-The exchange has also announced a 150 million ($145 million) investment into the country to support the establishment of a regional headquarters as well as other market operations.
-The move comes after Crypto.com received regulatory approval in the country, registering as a Digital Asset Service Provider (DASP) with France’s stock market regulator, the Autorit des marchs financiers (AMF), and gaining clearance from the Autorit de Contrle Prudentiel et de Rsolution (ACPR).
-The investment will also be used to hire local talent in France to focus on business development, compliance, and product.
-Furthermore, the exchange tries to expand its “in-market brand presence through consumer activations, engagement, and education.”
-With more than 50 million users, Crypto.com is one of the largest crypto trading platforms in the world.
-According to a ranking by CoinGecko, the exchange is the 12th largest crypto platform in terms of volume, with a trading volume of more than $236 million over the past 24 hours.
-Binance has continued to deepen its relationship with the country while its CEO Changpeng Zhao (CZ) called Paris the financial hub of crypto in Europe.
-During an opening session of the Binance Blockchain Week Paris 2022, CZ said the crypto market is set to “explode” in France over the next five years, thanks to the strong push for crypto adoption and some measures by the French government, including efforts to lower taxes and ease up employment laws.

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