CryptoCom and Coinbase have received the green light to offer their services and products from the regulatory presence in Italy, Organismo Agenti e Mediatori (OAM).
- In an announcement from CryptoCom, CEO and Co-Founder Kris Marszalek states that “We are excited to receive this registration in Italy and view it as a major step forward for Crypto.com.” This allows the distribution of products and services within Italy that comply with local regulations.
- Coinbase announced that its application was approved by the OAM on July 18th. Coinbase V.P. of International and Business Development Nana Murugesan believes that “gaining this regulatory approval is a testament to our close collaboration and positive working relationship with the Italian financial regulators.”
- Italy is the third largest market in the European Union behind Germany and France and it has become a target to expand to for various service providers including Binance which received regulatory approval to offer services in early June.
- This announcement comes after an impressive marketing campaign from CryptoCom within the last few months including becoming the main sponsor of the World Cup and a $700M deal to rename the Staples Center to the CryptoCom Arena. Coinbase has been working hard behind the scenes, with this announcement coinciding with its plans to expand further into European markets.