Crypto.com will soon introduce a new mobile app in South Korea, replacing the current local platform OK-BIT that was acquired by Crypto.com in 2022. Users of OK-BIT were given a 30-day notice of the platform's closure on April 29, 2024. The new Crypto.com App is scheduled to be operational on the same date.

Once launched, the Crypto.com App will allow retail customers in South Korea to trade over 150 cryptocurrencies and gain access to exclusive non-fungible tokens (NFTs) projects. The app will also provide educational resources and access to Crypto.com University.

It is worth noting that the platform will only cater to retail investors as South Korean institutions are not permitted to invest in cryptoassets. The Crypto.com team views the South Korean market as pivotal for the platform's expansion. Patrick Yoon, Crypto.com South Korea's General Manager, indicated their dedication to tailoring the platform for the South Korean market.

Eric Anziani, President and COO of Crypto.com, expressed enthusiasm for collaborating with South Korean regulators and contributing to the industry's responsible growth.

The Crypto.com team reiterated its commitment to complying with local laws and regulations, emphasizing their adherence to high ethical standards, compliance, and risk management in all activities.