Crypto.com Joins Adan Creating Crypto and Blockchain Frameworks

Popular Singapore-based cryptocurrency exchange Crypto.com has announced membership in Adan, an association for crypto and blockchain professionals in France and Europe. Joining Adan helps Crypto.com contribute to improving and developing the industry across the region.

"We are proud to become members of Adan as we share similar values and are aligned on our goals for the crypto industry in France and the EU region - including our support of the upcoming MiCA regulation.

As a member of Adan, we look forward to contributing to industry and regional collaboration to advance responsible innovation and education in Web3," said Crypto.com President and COO Eric Anziani.

Expansion of Crypto.com's Influence

According to an official Crypto.com press release, Adan represents 200 professionals, including new and established crypto players. It focuses on innovation and increased Web3 use cases in the covered areas.

Adan helps develop and catalyze the adoption of frameworks that encourage innovation and promote synergies between players with varying experience levels.

In addition, ADAN helps these players maintain their autonomy by removing all obstacles to their growth and competitiveness. In addition to Crypto.com, Adan members include the Ethereum France Association, Binance, Bitpanda, Mastercard, KPMG SA, Luno France, and OKX France.

Crypto.com said it complies with regulations and supports security and crypto adoption with innovation. It sponsors the National Hockey League (NHL), the National Basketball Association (NBA), and the Formula 1 Miami Grand Prix on May 22.

Crypto.com Plans Expansion

The exchange is already planning to onboard its following 100 million users. Crypto.com's APAC head in Melbourne, Karl Mohan, has suggested new products for specific markets to attract more users in these jurisdictions.

For instance, Mohan spoke about the Australian market, noting that the country's crypto industry has been "pivotal" to the company's success. He added that Crypto.com intends to expand its presence by offering "industry-leading products to the increasingly mature investor base."

Crypto.com received a full operational license from Dubai's Virtual Assets Regulatory Authority (VARA), enabling it to become the first exchange in the United Arab Emirates (UAE) to operate with fiat.

The license from VARA supports the company's goal of onboarding its next 100 million customers, as it can now offer a wide range of products to individual and institutional investors in Dubai.

In November 2023, Crypto.com satisfied pre-operational requirements after satisfying VARA's four-step process, which began in 2022 and involved a provisional permit and preparatory licenses for a Minimal Viable Product (MVP).