‘100 million users globally registered on Crypto.com despite VC activity pause’

Crypto exchange Crypto.com has reached a significant milestone by surpassing 100 million users globally since its inception in 2016. The company attributes this achievement to its recent marketing efforts, including the release of its Fortune Favors the Brave brand film.

Since the first Formula 1 Crypto.com Miami Grand Prix in May 2022, Crypto.com’s user base has doubled. CEO Kris Marszlek credits engaging campaigns and strategic partnerships for this growth. Despite the success in user acquisition, Crypto.com’s venture arm, Crypto.com Capital, has reduced its funding activities due to high valuations in the market.

While Crypto.com lags behind competitors like Coinbase and Binance in terms of user numbers, the company has been expanding internationally with licenses from regulators in various countries. However, Crypto.com has faced challenges in some markets, such as the Netherlands and South Korea.

In the Netherlands, Crypto.com’s parent company was fined for violating anti-money laundering regulations, but the company assures that the issue has been resolved without impacting its services. Additionally, the launch of Crypto.com in South Korea was postponed due to a money-laundering probe, with the company emphasizing its commitment to compliance and transparency with regulatory authorities.

Despite these obstacles, Crypto.com’s user base continues to grow, and the company remains focused on its international expansion efforts.