Crypto.com Agrees To Offer Services In Canada Under OSC

Crypto.com has signed a Pre-Registration Undertaking with the Ontario Securities Commission (OSC) in Canada, which will follow the regulations introduced by the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) and the Autorité des marchés financiers (AMF) of Quebec, the firm noted in a blog post released Monday.

A prominent crypto exchange, Crypto.com is the first platform to offer crypto services in Canada.

"This signing, recognized by the OSC and all Canadian jurisdictions through a joint Canadian Securities Administration (CSA) initiative, makes Crypto.com the first global cryptocurrency platform currently operating in line with this regulatory undertaking in Canada," it added.

The exchange will work with the securities regulator "to offer a suite of products and services in full compliance with Canadian regulations," as per the management.

"Compliance underscores everything that we do at Crypto.com," Kris Marszalek, CEO of Crypto.com, said in the blog post. "The North American market, and Canada specifically, represent a significant area of potential growth for the crypto market, and we are proud to work with the OSC and the CSA in providing Canadian customers access to a safe, secure and reliable global platform."

Crypto.com's expansion amid a bearish market is no secret. The firm recently gained approval from the Organismo Agenti e Mediatori (OAM) to operate in Italy. It will also provide digital wallet and custody services to the citizens of the country.

Additionally, the exchange was approved by the Cyprus Securities and Exchange Commission (CySEC) to operate as a crypto broker in Cyprus.

Interestingly, Crypto.com also struck a "Memorandum of Understanding (MoU)" with Korean entertainment company Fantagio. The two firms will collaborate on a number of occasions to introduce products related to the portfolio of the entertainment firm. The first collaboration between the two led to the birth of an NFT collection that sold out just a few hours since its release last week.