Crypto.com continues to dominate the crypto market, surpassing Coinbase in daily trading volume, reaching $3.16 billion on August 1. The exchange led in USD-supported spot trading volume in July, with an open interest on its derivatives market nearing $1 billion, marking a significant increase since January. Crypto.com’s reported trading volume has seen a 25.33% increase in the past 24 hours, maintaining its position as a leading player in the industry.
In addition to its trading success, Crypto.com received approval from the Central Bank of Ireland (CBI) as a Virtual Asset Service Provider (VASP) in June, allowing the company to expand its offerings in Ireland. This approval puts Crypto.com alongside other major crypto firms regulated by the CBI, highlighting the growing acceptance and regulation of digital assets within the country. Ireland has approved a total of 15 entities as VASPs, with Crypto.com being one of the latest additions in 2024.
The company has also been “deemed to be licensed” in Hong Kong, where only two exchanges are currently licensed to provide services to retail investors. Crypto.com, founded in Hong Kong in 2016 and now based in Singapore, is the largest crypto exchange by trading volume and is seeking a license from the Hong Kong Securities and Futures Commission (SFC). This regulatory approval further solidifies Crypto.com’s position as a leading and compliant player in the crypto industry.
With a growing trading volume and regulatory approvals in key markets like Ireland and Hong Kong, Crypto.com is on track to solidify its position as a dominant player in the global crypto market. As the company expands its offerings and reaches new milestones, investors and users can expect continued growth and innovation from Crypto.com. The company’s commitment to compliance and regulation further instills trust among users, making it a top choice for trading and investing in the digital asset space.
Crypto.com’s success in surpassing Coinbase in daily trading volume reflects its growing popularity and market dominance. With increasing open interest on its derivatives market and strong trading performance, Crypto.com is setting new benchmarks in the industry. The company’s approval as a VASP in Ireland and its “deemed to be licensed” status in Hong Kong underscore its commitment to regulatory compliance and its goal of providing a secure and trusted platform for users worldwide.
In conclusion, Crypto.com’s recent achievements, including surpassing Coinbase in daily trading volume, receiving regulatory approvals in key markets, and demonstrating strong trading performance, position the company as a frontrunner in the crypto industry. With a focus on compliance, innovation, and user experience, Crypto.com continues to set new standards and attract a growing user base. As the company continues to expand its offerings and reach new milestones, it is poised to further solidify its position as a leading global crypto exchange and service provider.
