Trade Republic & Crypto.com joined Italian OAM Register
The two crypto companies join Binance and Coinbase among the platforms that have registered as crypto service providers in Italy.
Crypto.com - one of the most important exchanges in the world in terms of transaction volumes - and germany-based investment platform Trade Republic have received the green light for admission to the Italian OAM (Organismo Agenti e Mediatori) register for cryptocurrency and are now authorized to operate in Italy.
The Singapore-based exchange is the third to have had the official green light in our country, after Binance and Coinbase. The initiative is part of a broader strategy aimed at increasing the company's market share in Europe. “We are excited to receive this registration in Italy and view it as a major step forward for Crypto.com,” said Kris Marszalek, co-founder and CEO of Crypto.com.
Joining the OAM register is a natural step for Trade Republic which has been present on the Italian market since December 2021 and regularly authorized by CONSOB to operate in Italy. The company already holds a stock brokerage license in Germany (for shares, ETFs and derivatives) and has recently also obtained a license in Spain, one of the 6 markets in which it operates. “Trade Republic has supported the intervention of the legislator in the regulation of the cryptocurrency sector from the outset. A safe ecosystem generates benefits for everyone: investors, operators and institutions,” stated Emanuele Agueci, Country Manager Italy of Trade Republic.
Last February, the Italian Ministry of Economy together with the broker's regulatory authority - the Organism of Agents and Mediators (OAM) - created a new special register to map and register all cryptocurrency operators permanently present in the country. Currently there are 46 companies that have joined the OAM register, in addition to another 24 subjects who have submitted application and will operate until their application is accepted (or denied).