Singapore-based exchange Crypto.com has obtained a MiCA license from authorities in Malta after receiving provisional approval in mid-January.

Malta Financial Services Authority Granted Markets Regulatory License in Cryptoassets has been granted to Malta-based subsidiary Crypto.com, making the company one of the first major cryptocurrency exchanges to gain regulatory approval under the EU licensing framework.

Obtaining a MiCA license from the MFSA allows Crypto.com to compliantly pass its services across the European Economic Area, which includes 27 member states.

Eric Anziani, President and COO of Crypto.com, noted that the company priority Obtaining a MiCA license as part of its global expansion strategy. Anziani added that the platform plans to drive regulated cryptocurrency adoption across Europe.

The EU has shown incredible foresight in designing and implementing a regulatory regime, which means we can streamline processes to ensure compliance and smooth cross-border activity. We look forward to offering our industry-leading products and services to more European users in a regulated environment.

Eric Anziani, President and COO of Crypto.com

In a separate announcement, Crypto.com unveiled new custody services for institutional clients in the US, Canada and globally. According to the company, US and Canadian customers can access Crypto.com Custody Trust Company, which is licensed by the New Hampshire Department of Banking.

Management of the company's Crypto.com subsidiary in Singapore, which he oversees

The MiCA license adds to Crypto.com's growing portfolio of regulatory approvals. The Singapore-based cryptocurrency exchange, which is also headquartered in Australia, has obtained licenses from global regulatory bodies, including the UK's Financial Conduct Authority, Dubai's Virtual Assets Regulatory Authority, and several US regulators since its launch in 2016.