Only a week after Currency.com pulled out of Russia, the cryptocurrency exchange platform announced the launch of its services in the United States. It will offer crypto trading and storing services to traders of 48 states in the country.
Currency.com operates in Europe from its offices in London, Gibraltar and Vilnius. For its expansion into the United States, the company formed a local unit, Currency.com US, which is registered with the Financial Crimes Enforcement Network (FinCEN) as a Money Services Business.
The US CEO of Currency.com, Steve Gregory said: “Our expansion into the United States represents a milestone moment in the growth of Currency.com as we introduce our simplified, intuitive web-based platform to one of the world’s most mature cryptocurrency markets.”
However, its services will not be available to the residents of the state of New York and Hawaii. But, the exchange promised to launch in these two states as well in the 'coming months'.
Listing Major Cryptocurrencies
Initially, the platform will offer services only with Bitcoin , but it will add other popular digital currencies like Ethereum , Litecoin and Bitcoin Cash eventually.
In addition, it promises fiat-to-crypto capabilities and a crypto wallet with fiat support. Traders can connect their bank accounts to its crypto wallet platform or use credit/debit cards for purchasing cryptos.
“Our mission is to help make it easy and safe for everyone to invest in cryptocurrencies. We make buying and holding cryptocurrencies so simple and intuitive that you no longer think of it as ‘cryptic’- it’s just new money,” Gregory added.
Currency.com’s US expansion came when the platform is witnessing a major surge in demand for its services. Overall trading activities on its platform jumped by 445 percent in 2021, whereas its client numbers increased by 130 percent in the first six months of the year.
But, its recent exit from the Russian market would definitely put a dent in the client metrics. It reportedly had around 500,000 clients in Russia.
“Our strong growth put us on track to expand into new markets, diversify the range of products and solutions we offer our clients, and work in close concert with regulators and trade organisations to ensure we continue to provide a secure environment for our clients to buy, sell and trade cryptocurrencies,” said Gregory.
