Crypto.com receives an Australian Financial Service License

​Cryptocurrency exchange Crypto.com announced that it has received an Australian Finance Service License (AFSL), enabling the issuance of cards to Australian residents due to the recent acquisition of The Card Group Pty Ltd, which enables crypto.com to offer its services to Australians.

Crypto.com recently enabled Australian Dollar transfers in and out of the platform via New Payment Platforms (NPP) and Bill Payments (BPAY). Through AFSL, crypto.com plans to start domestic issuance of cards in the Australian region. The exchange outlined the importance of a direct relationship with Australian customers and the Australian financial ecosystem.

“We are extremely proud to secure an AFSL and look forward to having a direct relationship with our Australian customers. We are committed to accelerating the world's transition to cryptocurrency; working within the regulatory frameworks of the markets we operate in is a key pillar of achieving our mission,” Kris Marszalek, co-founder and CEO of Crypto.com, said in a statement.

The Australian Securities and Investments Commission clearly stated that all the companies operating in cryptocurrency markets in Australia must secure AFSL to continue operations. Crypto.com also mentioned its plan to expand services in the region through innovative products.

Crypto.com is currently headquartered in Hong Kong and has more than 600 employees around the world.