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Crypto Exchange Coinify Obtains Regulatory Approval to Operate in Italy
The now-bankrupt crypto lender Voyager Digital acquired the exchange for $84 million in stocks and cash last August.
By Cam Thompson
Updated May 11, 2023, 3:42 p.m. Published Aug 15, 2022, 4:20 p.m.
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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.
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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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- The U.S. Senate's crypto market structure bill has been waylaid by a dispute over something that's not related to market structure: yield on stablecoins.
- The Digital Chamber is offering a response to a position paper circulated earlier this week by bankers who oppose stablecoin yield.
- The crypto group's own principles documents argues that certain rewards are needed on stablecoin acvitity, but that the industry doesn't need to pursue products that directly threaten bank deposits business.
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