By Alicia Maher
The crypto exchange platform, Cryptocurrency.com, has recently pulled its services out of Russia following the military offensive against Ukraine and has expanded to other countries since then.
Currency.com has just announced its entry into the American market, where it will offer crypto trading services alongside other digital asset transaction services to the U.S. market. It plans to provide its services to 48 states across the country.
As outlined by the exchange, the initial plan is to begin offering services in Bitcoin before expanding to other popular crypto tokens.
Currency.com is currently operational in Europe, with offices in London, Gibraltar, and Vilnius. As part of its expansion into the American market, the exchange established a local department named Cryptocurrency.com U.S., registered as a money services provider with the Financial Crimes Enforcement Network (FinCEN).
The U.S. Holds Massive Market prospects
According to the CEO of Currency.com U.S, Steve Gregory, the expansion into the United States is a milestone in the company’s history as it represents the growth of the firm. Additionally, the firm is ready to introduce an easy-to-use and innovative web-based solution to one of the world’s largest cryptocurrency markets.
However, Gregory added that residents of the states of New York and Hawaii would not be able to enjoy Currency.com’s range of services as its products are yet to be registered in the states. But the CEO added that there is an ongoing effort to launch services in the two states in the coming months.
Limited Cryptocurrency Available on Currency.com
The company plans to kickstart its services with Bitcoin as the primary digital token, pending when the arrangement to onboard other popular coins like Ethereum, Bitcoin Cash, and Litecoin is completed. As a result, other significant digital assets will be added in the future.
Additionally, fiat to crypto services will also be integrated to enable users with crypto wallets to access fiat currency transaction support. Traders can also connect their bank accounts to the crypto wallets on the platform or choose to use credit or debit cards for buying cryptocurrency.
The Currency.com CEO further reiterated that the objective of the exchange is to make digital transactions safe and convenient for everyone and to provide top-notch services for those interested in buying and holding digital assets.
Everything will be simplified and intuitive so that moving into crypto investment will be done without much doubt by interested investors.
The exchange’s expansion into the United States came at a time when the firm was experiencing a surge in demand for its services across the globe.
Currency.com’s trading activities spiked to 4455 last year, while the client base increased by about 130% in the first six months.
However, its recent exit from Russia will likely affect its client numbers because it is reported to have around 500,000 clients in Russia alone.
That said, the strong growth of the exchange platform puts it in a position to expand into other unexplored markets and diversify its range of products.