Crypto.com receives EU license for the introduction of crypto finance derivatives-Tradingview News
The first mobile crypto and payment platform Crypto.com has received a license with which it can offer financial derivatives on cryptocurrencies in the European Economic Area.
According to a message dated May 21, Crypto.com received a license according to the guideline for markets for financial instruments (MIFID).
“We have already expanded our brand presence in Europe since receiving the mica license and are now looking forward to offering our customers in the region even more opportunities through these new offers to deal with our platform,” said Kris Marszalek, co-founder and CEO of Crypto.com.
In mid-January, Crypto.com received the basic approval of working throughout the European Union as part of a markets in Crypto-Assets (Mica) license. The company received the official approval for the takeover of the trading service provider based in Cyprus Service provider at Allnew Investments from the Cypriot Securities and Stock Exchange Supervisory Authority (CYSEC).
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The company is not the first crypto company to receive a MiFID license through the takeover of a financial company based in Cyprus. On May 20, the cryptocurrency exchange KRaken announced the start of the regulated derivative trade on its platform. With the takeover, the stock exchange secured an EU license as part of the markets for financial instruments (MIFID II).
As with Crypto.com, a company based in Cyprus played a role. Kraken took over the MiFID II-regulated company Payward Europe Digital Solutions to offer its derivatives. Kraken took over the Futures trading platform NinjaTrader in early May. The company's turnover rose by 19 % in the first quarter compared to the previous year to $ 471.7 million.
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The large crypto tour Gemini recently received the official approval of expanding the trade in crypto derivatives in Europe.
