Currency.com expands into the US as it extends global growth

Currency.com, a high-growth cryptocurrency exchange aimed at boosting the adoption of digital assets across the globe, has expanded its services into the US market.

With this expansion, Currency.com is now set to offer US residents access to yet another secure, regulated platform. From here, customers can easily and securely buy, trade and store top cryptocurrencies, the platform said in a press release.

The crypto exchange has a Money Services Business license from the Financial Crimes Enforcement Network (FinCEN).

Launching in 48 states

Per the press release, Currency.com will be accessible in 48 states and territories in the United States. New York and Hawaii will have to wait for a few months before the exchange’s services are available, the firm added.

“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,” said Steve Gregory, the CEO of  Currency.com US.

Support for BTC, with ETH, LTC and BCH to follow

Bitcoin (BTC) will be the first supported cryptocurrency, with support for Ethereum (ETH), Litecoin (LTC) and Bitcoin Cash (BCH) set to follow.

Currency.com US will initially be accessible via its website only, which will be operational in the country as from 1 May 2022. However, the company is looking to unveil a mobile-based application in the coming weeks.

Simplified onboarding

Currency.com US promises a simplified onboarding process, with machine learning technology helping to quickly assess user risk profiles. Everything will be done within “strict regulatory parameters.”

“Lengthy turnaround times and cumbersome registration processes are some of the main sources of frustration for online investors. With Currency.com’s new simplified onboarding, a process that usually takes our competitors a couple of days, will take us just a matter of minutes, if not seconds” said Gregory.

The exchange will also offer fiat-to-crypto functionality as well as a crypto wallet that supports fiat. This will offer flexibility to customers, with payment methods such as bank transfer and credit card available.

Eyeing further growth 

Currency.com’s launch of a dedicated US arm follows similar moves by major crypto exchanges like Binance and Crypto.com.

The move into the US thus provides a growth opportunity that could it see Currency.com’s global business reach another high in 2022 and beyond.  

In 2021, the exchange’s trading activity soared by 445%, with on-exchange trade executions increasing by 409%. Currency.com has over one million clients across the globe.