Hong Kong's Crypto.com secures an AFSL, prepares to issue cards in Australia

Crypto.com has secured an Australian Financial Service License (AFSL), secured via the acquisition of The Card Group Pty Ltd, which was approved by Australia’s Foreign Investment Review Board. Terms of the acquisition have not been disclosed.

Securing an AFSL is yet another milestone in Crypto.com’s long standing commitment to being licensed and working within the local regulatory frameworks in markets throughout the world. This news comes on the heels of Crypto.com’s recent announcements supporting AUD transfers in and out of the platform via BPAY and NPP.

The Crypto.com Card is already the most globally available card of its kind. Having an AFSL paves the way for Crypto.com to begin local issuance of the Crypto.com Card in Australia. Equally important is Crypto.com’s ability to have a direct relationship with Australian customers and the Australian financial ecosystem. Crypto.com looks forward to working with local network schemes to speed the development of new features and functionality of products and services available to Australian customers.

Kris Marszalek, Co-Founder and CEO of Crypto.com said, “We are extremely proud to secure an AFSL and look forward to having a direct relationship with our Australian customers. We are committed to accelerating the world’s transition to cryptocurrency; working within the regulatory frameworks of the markets we operate in is a key pillar of achieving our mission.”