UK based Blockchain.com crypto firm, has secured regulatory approval from Italy’s Organismo Agenti e Mediatori (OAM) as a Virtual Asset Service Provider (VASP) allowing it to provide virtual currency and wallet services to Italian residents and institutional investors under the OAM’s regulatory framework.
Blockchain.com has additional registrations and licenses in process in the U.S., Germany, France, Spain, Dubai, Ireland and The Netherlands.
Blockchain.com currently has 83 million wallets in more than 200 countries
With 83 million wallets in more than 200 countries, and have transacted more than $1.2 trillion in crypto to date.
Major exchanges Binance and U.S.-based Coinbase Global Inc , as well as Singapore-based Crypto.com and German investment platform Trade Republic, are among those to have already secured registration with the OAM.
Crypto platforms are looking to increase their bases in Europe before ground-breaking crypto rules agreed last month by the European Union come into force. Under the rules, expected to go live after 2024, crypto firms will need a licence and customer safeguards to issue and sell digital tokens in the bloc.