The Central Bank of Ireland (CBI) has approved Crypto.com as a virtual asset service provider (VASP). This significant milestone allows Crypto.com, one of the world’s largest crypto trading platforms, to expand its services in Ireland. The approval, announced on June 11, includes crypto-to-fiat exchanges and fiat wallets.
Commitment to Compliance and Innovation
Eric Anziani, Crypto.com’s president and chief operating officer, emphasized the company’s dedication to regulatory compliance and responsible innovation. “We are excited to broaden our offering in Ireland, enabling consumers to engage with the most comprehensive crypto product offering,” he said.
While Crypto.com did not specify the new crypto services that will be introduced in Ireland, the VASP approval signals a broader scope of operations.
Growing List of Regulated Crypto Firms in Ireland
With this approval, Crypto.com joins other prominent crypto firms regulated by Ireland’s central bank. The list of registered VASPs in Ireland, as of June 7, includes 14 entities such as Coinbase, Ripple, Gemini, MoonPay, Zodia, and Paysafe.
In 2023 alone, seven companies received VASP approvals in Ireland. In 2024, the CBI has already approved four more firms, including Foris DAX Global, Fortuna Digital Custody, Ramp Swaps, and now Crypto.com.
Ireland’s Growing Crypto Industry
The Central Bank of Ireland’s approval of Crypto.com highlights the country’s increasing interest in the cryptocurrency industry. Coinbase, the largest crypto exchange in the U.S. by trading volume, chose Ireland as its European crypto hub in late 2023 to comply with Europe’s new Markets in Crypto-Assets Regulation.
Other major companies like Ripple and Gemini are also strengthening their presence in Ireland, particularly as they face regulatory challenges in the U.S.
