Crypto.com, a leading cryptocurrency exchange and debit card provider, has officially obtained the Australian Financial Services License (AFSL), enabling it to issue cards to Australian residents. This milestone follows the acquisition of The Card Group Pty Ltd, which facilitates Crypto.com's entry into the Australian market.
Key Developments and Strategic Commitments
In an official announcement on December 2, Crypto.com reiterated its dedication to operating within local regulatory frameworks across global markets. The platform recently introduced AUD transfers via NPP and BPAY, streamlining deposits and withdrawals for Australian users.
Founded in 2016, Crypto.com boasts over 5 million clients worldwide. With the AFSL, the company plans to:
- Launch domestic card issuance in Australia.
- Strengthen ties with Australian customers and financial ecosystems.
Regulatory Milestones and Global Expansion
The AFSL marks another addition to Crypto.com’s growing regulatory portfolio, which includes:
- A Financial Institution License from Malta’s MFSA.
- A Category 3 Virtual Financial Asset (VFA) License.
The Australian Securities and Investments Commission (ASIC) mandates that all crypto service providers obtain an AFSL to operate legally. Crypto.com also highlighted plans to expand innovative products tailored for the region.
"We’re proud to secure the AFSL and look forward to building direct relationships with Australian customers. Accelerating the world’s transition to cryptocurrency hinges on working within regulatory frameworks," said Kris Marszalek, Crypto.com’s CEO and Co-Founder.
Future Collaborations and Local Impact
The company aims to collaborate with local networks to enhance product features for Australian users. 👉 Explore Crypto.com’s global services
Headquartered in Hong Kong, Crypto.com employs 600+ staff worldwide.
FAQ Section
1. What does the AFSL enable Crypto.com to do in Australia?
The license allows Crypto.com to issue debit cards and offer financial services to Australian residents legally.
2. How does Crypto.com ensure compliance in Australia?
By adhering to ASIC’s regulations, including mandatory AFSL acquisition and localized product adaptations.
3. What other licenses does Crypto.com hold?
It holds a Malta MFSA Institutional License and a VFA Category 3 License, among others.
4. Why is local card issuance significant?
It reduces transaction costs and improves service speed for Australian users.
5. How will Crypto.com expand its Australian presence?
Through partnerships with local payment networks and tailored financial products. 👉 Learn more about Crypto.com’s offerings
6. Where is Crypto.com headquartered?
The company operates from Hong Kong with a global workforce.