Singapore-based exchange Crypto.com has announced the appointment of a general manager for its home market.
Crypto.com appoints Chin Tah Ang as general manager of Singapore, according to a statement.
Ang was most recently the head of Digital Industry Singapore (DISG), a joint office between the Singapore Economic Development Board (EDB), Enterprise Singapore (EnterpriseSG) and Infocomm Media Development Authority (IMDA). Previously, he also served in various roles within EDB with a focus on strategy and policy engagement in international markets.
«I am pleased to welcome [Ang] who brings a comprehensive and well-rounded understanding of local market conditions, the competitive landscape, as well as regulatory matters and technological trends,» said Crypto.com co-founder and chief executive Kris Marszalek.
Back to Expansion
In June during the height of the crypto market turmoil, Crypto.com announced that it would ax 260 staff, or around 5 percent of its workforce at the time, and optimize resources to position for the rebound. There are signs that sentiments may have improved since with acquisitions earlier this month of payment service provider PnLink and virtual asset exchange OK-BIT in South Korea.
Founded in 2016, Crypto.com currently serves more than 50 million customers in 90 countries. The firm received in-principle approval from the Monetary Authority of Singapore in June this year for its Major Payment Institution license.
