Crypto.com announced plans to invest €150 million in France to support the establishment of its market operations and regional headquarters in Paris.

The announcement comes shortly after the cryptocurrency platform was cleared to operate in France as a Digital Asset Service Provider (DASP) in September 2022.

Crypto.com says that the new investment will help anchor its long-term commitment to France through the hiring of local talent, especially in compliance, business development, and product.

Additional support will also be put towards initiatives to advance the cryptocurrency platform’s in-market brand presence through consumer activations, engagement, and education.

Crypto.com’s global headquarters is currently located in Singapore and the platform is said to have more than 50 million users worldwide.

“We are incredibly excited to cement our commitment to France and Europe through the establishment of our regional headquarters in Paris,”

said Eric Anziani, COO of Crypto.com.