Crypto.com wins conditional approval to operate in Cayman Islands
The digital asset platform has received conditional approval from the Cayman Islands Monetary Authority to operate as a Virtual Asset Service Provider in the jurisdiction.
Crypto.com said it has been granted conditional approval by the Cayman Islands Monetary Authority to operate as a Virtual Asset Service Provider, or VASP, in the Cayman Islands.
The company said the approval makes it the first digital asset firm to receive conditional authorisation to operate as a VASP in the territory. It follows Crypto.com’s VASP registration with the regulator in August 2022, the firm added.
Crypto.com said the approval will allow it to expand its product and service offering in the Cayman Islands, particularly through the Crypto.com Exchange, which provides institutional-grade trading services for advanced traders and institutions.
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The company said it expects to receive full authorisation from the Cayman Islands Monetary Authority in the coming months, subject to the submission of the remaining material requirements.
Crypto.com, which was founded in 2016, is used by millions of customers globally.
The Recap
- Crypto.com received conditional VASP approval from CIMA in the Cayman Islands.
- It is the first digital asset firm with such approval.
- Full authorization is expected in the coming months.
