Crypto adoption continues to go great, despite the massive volatility that we can see in the crypto market. Check out the latest reports about Crypto.com digital exchange.
Digital crypto exchange boosts crypto adoption
Digital asset exchange Crypto.com said on Monday that it has acquired South Korean payment service firm PnLink Co. and virtual-asset exchange OK-BIT Co.
The move has allowed Crypto.com to secure the Electronic Financial Transaction Act and Virtual Asset Service Provider registration licenses in Korea.
As CoiDesk noted, these licenses are provided to trading and financial firms to conduct business legitimately within Korea and extend services to locals.
“This is an exciting next step for Crypto.com in an important market,” Kris Marszalek, co-founder and CEO of Crypto.com, said in a statement.
He added the following:
“We are committed to working with regulators to continue to bring our products and services to market, particularly in countries like South Korea where consumers have shown strong interest and adoption of digital currencies.”
Crypto.com did not disclose the deal size or whether the firm would face any regulatory hurdles.
It’s also important to note that the acquisitions come in the middle of a crypto market downturn, which has pushed several large exchanges to cut jobs and revise their growth plans.
But this is not stopping the mass crypto adoption from going on.
Regarding Bitcoin, at the moment of writing this article, BTC is trading in the green, and the king coin is priced at $23,196.
It’s been revealed that a popular analyst is providing price target updates for four crypto assets as the markets try to end the week in positive territory.
Here’s what he said about the subject:
“I’m still of the opinion we’re going to $28,000 in the mid-term, but would like to see more chop around this $23,000-$22,000 area to form a significant low. The last high at $24,700 wasn’t super convincing to be honest but still a bullish market structure in my opinion.”