Crypto.com to halt US institutional exchange offering; retail users unaffected News ▸ US ▸ Crypto.com ▸ Exchanges
Crypto.com to halt US institutional exchange offering; retail users unaffected
The company's institutional exchange will also remain open outside of the U.S.
1 min read
Updated: Jun. 9, 2023 at 9:53 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
Crypto.com will soon end U.S. access to its institutional exchange, according to a statement from the company on June 9.
That statement said the decision had been made due to limited demand in that market. Crypto.com said that the institutional exchange would remain available outside of the U.S. and that it would consider relaunching the U.S. service in the future.
The firm said that the change will come into effect at 11:59 p.m. EDT on June 21, 2023. It added that institutional users were given advance notice.
Service change will not affect retail users
Crypto.com emphasized that the change does not impact retail users, who have access to the company’s retail exchange, wallet, and other services. It noted that its derivatives product, UpDown Options, will also remain available to retail users.
The company added that its recent partnership with CoinRoutes, which aims to provide improved institutional access to liquidity, remains effective.
Crypto.com’s announcement of the service reduction comes after the U.S. Securities and Exchange Commission’s lawsuit against competing exchanges Coinbase and Binance earlier this week.
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Mike Dalton
Before transitioning to crypto writing in 2018, Mike studied library and information sciences. Currently, he resides on Canada's West Coast.
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Crypto.com was founded in 2016 on a simple belief: it’s a basic human right for everyone to control their money, data and identity.