Cryptocurrency platform Crypto.com has received an electronic money creation (EMI) license from the UK Financial Conduct Authority (FCA).
An EMI license allows companies to issue and manage electronic money and expands the range of financial services. Thanks to the license, the company plans to issue electronic money adapted for the UK market in accordance with the standards set by the FCA for consumer protection.
The crypto exchange, founded in 2016, previously received a virtual asset service provider (VASP) license in Dubai. The company now serves more than 80 million customers, allowing them to buy and sell cryptocurrency through the exchange, as well as purchase cryptocurrency products and services using cards.