Ireland’s Central Bank has granted approval to 15 different Virtual Asset Service Providers (VASPs) since June 7, 2024, including Crypto.com, Coinbase, Gemini, Ripple, and others.
Crypto.com, one of the world’s leading cryptocurrency trading platforms, announced on June 11 that it had secured VASP approval from Ireland’s Central Bank. This approval allows Crypto.com to expand its services in the country, including crypto-to-fiat exchanges and fiat wallets.
Eric Anziani, President and Chief Operating Officer of Crypto.com, highlighted the significance of this approval, emphasizing the company’s commitment to compliance and responsible innovation. Anziani stated:
“We are thrilled to broaden our services in Ireland, providing consumers with access to the most comprehensive range of crypto products.”
While Crypto.com did not provide details about the specific crypto services enabled in Ireland following this approval, the move signifies the company’s dedication to serving customers within regulatory frameworks.
Ireland’s Approval of 15 VASPs
With this approval, Crypto.com joins a roster of crypto firms regulated by Ireland’s Central Bank, including prominent names like Coinbase. The list of registered VASPs in Ireland now includes 14 entities as of June 7, encompassing major industry players such as Ripple, Gemini, MoonPay, Zodia custody platform by Standard Chartered, Paysafe, and others.
Several companies on this list received approvals in 2023, with four additional approvals granted in 2024, including Foris DAX Global, Fortuna Digital Custody, Ramp Swaps, and Crypto.com.
Ireland’s Growing Crypto Industry
The Central Bank of Ireland’s approval of Crypto.com underscores the country’s increasing involvement in the crypto sector. Notably, Coinbase, the largest crypto exchange in the U.S., designated Ireland as its European crypto hub in late 2023.
Coinbase‘s decision to establish its European operations in Ireland aligns with the country’s commitment to adhering to Europe’s significant cryptocurrency regulatory framework, the Markets in Crypto-Assets Regulation.
Summary Review: Crypto.com‘s approval by Ireland’s Central Bank marks a significant milestone in the country’s evolving crypto landscape. With 15 Virtual Asset Service Providers (VASPs) now approved, including major players like Coinbase and Ripple, Ireland is solidifying its position as a hub for cryptocurrency innovation and regulation. Crypto.com‘s expansion in Ireland signifies its dedication to compliance and responsible innovation, offering consumers access to a wide range of crypto products and services. This approval reflects the growing interest and involvement of established crypto firms in Ireland, positioning the country as an attractive destination for crypto businesses seeking regulatory clarity and market opportunities. As Ireland continues to embrace the crypto industry, its regulatory framework and supportive environment are likely to attract further investment and foster innovation in the digital asset space.
Disclaimer: Remember that nothing in this article and everything under the responsibility of Web30 News should be interpreted as financial advice. The information provided is for entertainment and educational purposes only. Investing in cryptocurrency involves inherent risks and potential investors should be aware that capital is at risk and returns are never guaranteed. It is imperative that you conduct thorough research and consult with a qualified financial advisor before making any investment decision.
