Crypto.com suspends institution services in the U.S.

Crypto.com, a Singapore-based cryptocurrency exchange, has announced its decision to discontinue services for institutional clients in the U.S. beginning June 21.

The suspension is a result of a subdued demand among institutional clients, which has been furtherexacerbated by the prevailing difficulties in the market.

In a statement released by Crypto.com, it was emphasised that institutional clients were informed well in advance regarding the suspension and that the exchange's retail mobile application and platform continue to be functional for users in the US.

The latter provides a platform that enables users to take extended or short trading positions on cryptocurrencies based on the anticipated fluctuations in the value of various cryptocurrencies.

While discontinuing its institution services in the U.S. Crypto.com is not ruled out, the possibility of a future re-establishment of its institution exchange within the nation is a possibility.

Crypto.com has recently received the Monetary Authority of Singapore MAS license for digital payment token services. This license allows Crypto.com to continue providing its services in Singapore.

OKX: Ignites A Financial Inferno: Torches $258 M In Tokens