Apart from Binance, Singapore-based crypto exchange platform Crypto.com was also attracted to locate its headquarters in Paris due to its pro-business environment.
As such, Crypto.com has received regulatory approval from the French market authority AMF to become a digital asset service provider.
Following that, the company will invest €150 million ($145.3 million) to establish a European HQ in the capital Paris and appoint capable individuals in compliance, business and product development.
For the record, Crypto.com followed the Binance method in developing its headquarters in Paris as the world's largest crypto exchange became the first company to obtain a digital asset service provider license in France.
According to Eric Anziani, Chief Operating Officer (COO) of Crypto.com stated that his company aims to facilitate the new digital economy in France and provide the best experience to customers who use its services.
In the meantime, Crypto.com is also prioritizing investment in sports marketing by sponsoring the FIFA World Cup to be held next month, signing a $100 million deal with Formula 1 racing and collaborating with the NBA's Philadelphia 76ers and the Ultimate Fighting Championship (UFC).
In fact, the company is determined to expand its services to Europe despite having to lay off 5% of its workforce in June.
It is understood that Crypto.com also offers a Visa debit card and its own token, Cronos including more than 50 million customers have used its services.
On a different source, Binance Chief Executive Officer (CEO) Changpeng Zhao (CZ) mentioned that the French government has deep knowledge of crypto right after French finance ministry officials insisted on supporting the development of the digital asset industry.
