Crypto Exchange Coinify Obtains Regulatory Approval to Operate in Italy

by Abiodun Oladokun
7 ways to make with crypto

Crypto Exchange Coinify Obtains Regulatory Approval to Operate in Italy

Cameron Thompson is a news reporter at CoinDesk.

Cryptocurrency exchange Coinify has obtained regulatory approval to operate in Italy, according to the Italian financial regulator’s website.

The Danish digital asset brokerage, currently licensed to operate in over 180 countries and territories, will offer its crypto trading and payments services in Italy after registering with the Organismo Agenti e Mediatori (OAM) on Aug. 12.

Italy has been significantly increasing its roster of crypto firms licensed to operate within the country. Just last month, Crypto.com, BitGo and Bitstamp all registered with OAM to offer their products and services in the country. Crypto exchanges Binance, Kraken and Bitpanda and brokerage Trade Republic have also registered recently.

Last August, crypto lender Voyager Digital acquired Coinify in an $84 million sale in stocks and cash, to bolster its crypto payments services. This past July, Voyager filed for Chapter 11 bankruptcy amid the crypto credit crisis.

Neither Coinify nor Voyager responded to requests for comment by press time.

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