European cryptocurrency platform Currency.com has formally entered the United States. To offer its services in the U.S., Currency.com has registered its U.S.-only platform Currency.com US with the Financial Crimes Enforcement Network (FinCEN) as a Money Service Business (MSB).
With the newly acquired licensing, Currency.com US will initially launch across 48 states and territories. The Currency.com team has clarified that New York and Hawaii residents can expect to gain access to access the platform in the coming months.
Initially, U.S. customers will be able to execute transactions through Currency.com US’ web app, which will be introduced on May 1, 2022. A dedicated mobile application for U.S. customers is under development and due for rollout in the coming weeks.
The platform’s expansion into the U.S. comes at the heels of growth across Currency.com’s global business. In 2021, the platform registered a 445% increase in its overall trading activity compared to the previous year. During this same period, trading volume on the exchange grew by 409%.
The U.S. platform features several crypto-centric products and capabilities, including a built-in digital wallet, fiat-to-crypto payment gateways, and a fast onboarding process.
The platform’s U.S. clients are among the first of its global clientele to access faster and more simplified onboarding and trade execution. In addition, Currency.com US will also implement its proprietary machine learning (ML) technology to assess and grade individual risk profiles for all of its U.S. clients while at the same time maintaining regulatory compliance.
The platform’s fiat-to-crypto payment gateways are designed to offer U.S. clients a seamless trading experience. It allows clients to securely buy, sell, and invest in a wide range of cryptocurrencies by linking their Currency.com US accounts to their bank accounts and debit and credit cards.
The U.S.-focused exchange platform will list Bitcoin (BTC), followed by other leading cryptocurrencies like Ethereum (ETH), Bitcoin Cash (BCH), Litecoin (LTC), and more to be added over time.
Additionally, the platform will support news feeds, financial content, analysis, and other relevant tools from Currency.com’s broad range of educational content.
Explaining Currency.com US’ vision, CEO Steve Gregory noted, “Our expansion into the United States represents a milestone moment in the growth of Currency.com as we introduce our simplified, intuitive web-based platform to one of the world’s most mature cryptocurrency markets. Our mission is to help make it easy and safe for everyone to invest in cryptocurrencies. We make buying and holding cryptocurrencies so simple and intuitive that you no longer think of it as ‘cryptic’- it’s just new money.”
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