Hong Kong-based Crypto.com has secured an Australian Financial Service License via its acquisition of a company called The Card Group Pty Ltd.
The license has been issued by Australia’s Foreign Investment Review Board, which analyses proposals by foreign firms to invest in Australia and will allow Crypto.com to operate within the local regulatory frameworks, the company said on Tuesday. No further details of the acquisition were provided.
Crypto.com, which provides crypto exchange, payments and debits cards, recently confirmed support for AUD transfers by allowing its users to directly deposit the currency to their Fiat Wallet through the app.
With the license in place, Crypto.com said it plans to unveil its debit card in Australia henceforth.
“We are committed to accelerating the world’s transition to cryptocurrency; working within the regulatory frameworks of the markets we operate in is a key pillar of achieving our mission,” said Kris Marszalek, Crypto.com CEO.
In late last month, Crypto.com received advance approval from the Malta Financial Services Authority for 2 financial licenses that oversee how payment firms operate and what services they can offer.