SINGAPORE – Singapore-headquartered cryptocurrency exchange Crypto.com is zooming in on the super rich to lift its business, even as it prepares for a widely expected pick-up in the crypto market.
In mid-February, it launched a programme called Crypto.com Prime, which is available in places including Singapore, the United States and Argentina. The price of Bitcoin at the time of writing was hovering at US$71,300 , higher than the US$44,200 in January and US$42,100 on Dec 31. The exchange came under criticism in March from a small group of people who complained online about their frozen accounts and cards, saying the exchange has been slow in replying, sometimes taking weeks to do so.
He added that the exchange has increased the size of its customer support teams four times over the last six months. In late June 2023, the firm announced it would set up its first global innovation lab in Singapore that looks at blockchain technology, Web3 and artificial intelligence. Web3 is the idea of a new, decentralised internet built on blockchains.