The giant Crypto.com joins Adan, the French crypto lobby

The crypto exchange, founded in 2016, intends to work for the development of the web 3 industry with the 200 other members of Adan.

The French crypto lobby has a new industry heavyweight. The Crypto.com exchange, which established its regional headquarters in Paris in 2022, is now one of the 200 members of theAdan (association for the development of digital assets). Its members include the French subsidiary of Binance, Binance France, and the French crypto exchange Coinhouse.

“We are proud to become members of Adan, as we share similar values ​​and are aligned on our goals for the cryptocurrency industry in France and the European Union region – including our support for the upcoming MiCA regulations,” Eric Anziani, president and COO of Crypto.com said in a statement. As a new member, the company intends to work to “advance responsible innovation and education in Web 3”.

PSAN

Founded in 2016, Crypto.com claims 100 million users worldwide. In 2023, the company has obtained PSAN registration (for service providerithese on digital assets) of the Financial Markets Authority (AMF). The company was registered as PSAN in France under the name Foris Dax, the Malta-based subsidiary of Crypto.com. In France, it may notably offer digital asset custody services, purchase/sale of digital assets for legal tender and exchange of digital assets for other digital assets.

The company had a series of setbacks in 2023. It had first announced the dismissal of 20% of its workforce out of approximately 4,000 employees, or nearly 800 positions, because of the upheavals of 2022, from the fall of Terra Luna to that of FTX. Likewise, in mid-November, Crypto.com was caught in a storm after the publication by the specialized site Nomics of the platform’s daily transaction volume, which increased from 5 billion dollars per day last May to 300 million. dollars in November.