International crypto exchange, Crypto. com has announced that they have now secured a license to operate in Cyprus. This license was awarded by the country’s financial regulator, the Cyprus Securities and Exchange Commission (CySEC) on Sunday. The international exchange will now be able to offer digital product assets and services to customers resident in the European nation.

Recently, the company has secured registration to operate in Greece from the Hellenic Market Capital Market Commission, Italy from the Organismo Agenti e Mediatori (OAM), a Major Payment Institution License in Singapore from the Monetary Authority of Singapore (MAS), and provisional approval of its Virtual Asset License in Dubai from the Dubai Virtual Assets Regulatory Authority.

All of the above-mentioned countries are proof that Crypto.com is actively chasing expansion in Europe. Commenting on the latest regulatory approval, Co-founder of CryptoCom, Kris Marszalek confirmed that Europe is set to be an important region for the exchange’s expansion plans as they expand their products and services to more customers worldwide.

The negative effects of the widespread crypto winter caused many crypto companies to resort to several measures to manage working capital. Crypto.com announced that it was letting go 5% of its workforce but the number was rumored to be significantly higher by inside sources. On the expanse side of things, Crypto.com has not regressed as they have been acquiring licenses to operate in several European nations over the past few months.

Other platforms that made workforce cuts like Gemini, Coinbase, and FTX have also been aggressively pushing their expansion roadmaps. FTX also received a license from CySEC to launch FTX Europe earlier this year. Coinbase acquired a Virtual Assets Service Provider license from OAM in Italy while Gemini was confirmed as the first cryptocurrency exchange that has been given the authority to operate in Ireland.

Featured image source: insidebitcoins.com