Crypto.com – one of the largest cryptocurrency exchange trading platforms in the world – just announced Paris as the city in which the company’s European headquarters will be located.
On October 12, the world’s fastest-growing cryptocurrency platform announced that it will establish its European regional headquarters in Paris. In addition, the corporation said that it will spend 150 million euros ($145.7 million) in France.
Notably, it will do so to facilitate the launch of its market activities. Crypto.com will also look to recruit locals in compliance, business development, and product development.
Crypto.com Looking To Invest In France
Crypto.com was registered as a Digital Asset Service Provider (DASP) by the Autorité des marchés financiers in September.
Following approval with the French government financial branch – the investment by Crypto.com will assist to solidify the company’s long-term commitment to France.
Furthermore, funds will be devoted to efforts that will strengthen Crypto.com’s in-market brand presence through consumer activations, education, and engagement.
The bitcoin trading platform received regulatory certification from French market regulators last month. More than 50 million individuals utilize the cryptocurrency exchange worldwide.
Last month, it received regulatory certification, allowing it to provide services and products to French clients.
The COO of Crypto.com – Eric Anziani spoke in a statement about how excited the company is to finally have a European headquarter in France.
“Our regulatory approval was the first important step in our journey in France,” Anziani said. “We look forward to continuing to engage with stakeholders across sectors to help facilitate the new digital economy in France and providing customers a best-in-class crypto experience.”
Employee Mass Layoff Accusation
There have recently been claims that cryptocurrency exchange Crypto.com has laid off over 2,000 staff. The crypto exchange, however, has vehemently denied these accusations, stating that these assumptions were “incorrect.” According to sources, a representative stated.
The corporation, however, did not say how many employees were affected. Furthermore, the claimed sum is much larger than the previously disclosed personnel reduction by the company’s CEO, Kris Marszalek. Furthermore, following Marszalek’s revelation, the firm has undertaken “selective employee cutbacks,” according to a Crypto.com spokeswoman.
Furthermore, nearly 60% of employees in “non-corporate, back office, and support services” were laid off. This was according to the spokeswoman for the exchange, who did not give any other information.
