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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
AccessTimeIconAug 15, 2022 at 4:20 p.m. UTC
Updated May 11, 2023 at 3:42 p.m. UTC
Coinify is now licensed to operate in Italy. (Getty Images)
Coinify is now licensed to operate in Italy. (Getty Images)
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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.

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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CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

Cam Thompson
Cam Thompson

Cam Thompson was a news reporter at CoinDesk.

Follow @camgthompson on Twitter

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