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Crypto.com to Launch New App in South Korea on April 29

Crypto.com is broadening its worldwide footprint with the imminent launch of its app in South Korea, set for April 29th.

After securing regulatory clearance, Crypto.com has made the official announcement of its app’s debut in South Korea. This move will provide retail users with the opportunity to engage in trading over 150 cryptocurrencies and delve into exclusive non-fungible token (NFT) projects.

What Crypto.com App Will Offer in South Korea

With the introduction of the app in the region, retail users gain access to set up trading accounts, leveraging the platform’s advanced features and licensing. Alongside trading capabilities, the platform enhances user engagement through educational resources provided by Crypto.com University and a range of perks and rewards.

“We are thrilled to unveil the Crypto.com App for retail users in South Korea – a market of significant importance to our business growth, and one where crypto interest is thriving,” remarked Eric Anziani, President and Chief Operating Officer of Crypto.com.

“South Korean regulators are carefully advancing the sector, and we eagerly anticipate further collaboration with them to foster responsible industry growth,” added Anziani.

Compliance Endeavors and Partnerships

Crypto.com has affirmed its commitment to continuous cooperation with South Korean regulators, with a focus on aligning its operations with local legal standards while upholding principles of ethics and risk management.

The planned launch of the app signifies a significant milestone in Crypto.com’s journey in South Korea. Previous accomplishments include securing registrations under the Electronic Financial Transaction Act and as a Virtual Asset Service Provider in August 2022.

Additionally, Crypto.com has strengthened its presence by establishing partnerships with companies across the finance, gaming, and communication sectors in South Korea through Memorandums of Understanding.

“South Korean crypto enthusiasts demonstrate high engagement with the market and a strong appetite for more comprehensive and regulated Web3 products and services,” remarked Patrick Yoon, General Manager of Crypto.com South Korea.

“We have dedicated substantial time and resources to tailor our offering for this market and are proud to be the first and largest global cryptocurrency exchange to launch in South Korea,” Yoon added.

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I want to save money. Will cryptocurrency work?

Cryptocurrency is essentially virtual money that operates in a decentralized manner, not through a bank but directly on multiple independent computers.

Every cryptocurrency has two main components: the units of digital exchange called “coins” and the network within which the exchange takes place. These units can be transferred between wallets and exchanged on exchanges. The networks in which these coins exist are called blockchains, which translates to “chains of blocks.”

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