Crypto.com plans to officially launch its retail trading services in South Korea on April 29, the company announced on Tuesday.
The digital asset platform will take the place of OK-BIT, a locally licensed crypto exchange that is shutting down its services. Crypto.com had acquired OK-BIT in 2022.
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The company's president and COO, Eric Anziani, has expressed his enthusiasm for the launch in South Korea, calling it a crucial market for the company's growth and highlighting the strong consumer interest in cryptocurrencies.
The Korean trading platform, called Crypto.com App, will comply with the strict regulations set by local authorities for cryptocurrency exchanges.
It will allow retail investors to trade cryptos and non-fungible tokens, but will not offer services for institutional clients, as Korean institutions are not allowed to invest directly in cryptocurrencies.