Crypto.com Sets Sights on Regional Expansion

29 March 2022

Crypto.com is hiring amid what looks like a push into the Malaysian market.

The Singapore-based exchange recently posted vacancies for several full-time positions based in Malaysia via LinkedIn, with the latest entry published just three days ago.

Roles include mobile developers and managerial positions. However, the positions are listed as “remote” jobs, and hence it remains unclear if Crypto.com will launch a full expansion into Malaysia.

Crypto.com is currently operating under an exemption by the MAS (Monetary Authority of Singapore) to provide DPT (Digital Payment Token) services. More recently, it sealed a deal with FIFA that secures them as an Official Sponsor of the FIFA World Cup Qatar 2022.

Malaysia undecided on crypto

Earlier this month, Malaysia’s Communications and Multimedia Ministry Deputy Minister Zahidi Zainul Abidin said he “hopes the government can allow” bitcoin and other cryptocurrencies as legal transfer.

“We are trying to see how we can legalise this so that we can develop youth participation in crypto and assist them”, he said.

However, Deputy Finance Minister Mohd Shahar Abdullah later said in parliament that “Cryptocurrencies like bitcoin are not suitable for use as a payment instrument due to various limitations”, citing their volatility and the risk of cyber attacks.

Malaysia is currently involved in Project Dunbar – a multi-CBDC international settlements project led by the BIS Innovation Hub in partnership with central banks around the world including the Reserve Bank of Australia and the Monetary Authority of Singapore.

Blockhead Team
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