EXMO.com Shuts down Operations in Russia, Belarus and Kazakhstan

Fazzaco learned that the crypto trading services provider EXMO.com has decided to sell the digital assets business in Russia and Belarus over the concern that serving clients in these regions would prevent the company from maximising its strengths and performing better.

Additionally, Russian UBO, Eduard Bark, is parting ways with EXMO.com, transferring his stake as a part of a response to one of the company's directors, Serhii Zhdanov.

"In this current climate, which is highly uncertain, we must prioritise our adaptability by following a more rigid strategy," the firm said.

Furthermore, EXMO.com no longer provides services for Kazakhstan clients.

The new owner of the Russian, Belarusian and Kazakh digital assets exchange business is the owner of a Russian based software development company, one of the vendors to deliver engineering services to EXMO during the last three years, according to the official press release.

Last week, Fazzaco reported that the crypto exchange Currency.com​ has followed the steps of various companies around the world in response to Moscow's invasion of Ukraine, deciding to halt operations for clients from Russia.