Cryptocurrency and tokenized asset exchange Currency.com set its foot in the United States following registration with the Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) as a money services business.
In an announcement shared with Benzinga on Thursday, Currency.com announced that it will launch in 48 states and territories across the United States and facilitate the acquisition, storage, and investment in cryptocurrencies. Currency.com CEO Steve Gregory said this brings the platform to “one of the world’s most mature cryptocurrency markets.”
Currency.com claims that in 2021 it experienced a 445 percent increase in overall trading activity compared to the previous year and a 409 percent increase in the number of executed trades. Gregory told Benzinga the platform differentiates itself from competing cryptocurrency exchanges by using a machine-learning algorithm to assess client risk profiles and reducing the onboarding to just minutes—if not second.
Looking into the future, Gregory said that Currency.com expects to expand its U.S. operations. He said that while this is a more mature market than average, currently only under 20 percent of U.S. adults hold crypto and he believes there will be plenty of room for growth as the company expects that “this number will exceed 50 percent at the next uptrend of the market.”
