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This week Singaporean crypto-giant, Crypto.com, announced it would be setting up its European arm in Paris. The firm is planning to spend 150 million euros (approximately $145 million) on setting up brand new headquarters, staffed by local talent. This news has been well-received by France’s fast-growing crypto market. Crypto.com attained regulatory permissions earlier this year in September, allowing the company to provide products and services in France (along with the UK and Italy). Crypto.com follows Binance, another massive exchange that gained approval to operate in France in May. Crypto.com boasts 50 million users globally and is aggressively extending its reach across Europe in a bid to continue rapid expansion. The exchange now offers Visa debit cards and launched the native token Cronos. This latest development rounds off a successful year for Crypto.com, following sponsorship deals with the FIFA World Cup and Formula 1.
While this news means that investing in France will become easier, it is not without its drawbacks. Europe, on the whole, is suffering wild inflation, prompting action from governments. Investors may be looking for projects that promise decent returns despite economic conditions. One such opportunity is the Oryen Network. Oryen features the OAT (Oryen Autostaking Technic) mechanic, which automatically stakes the native token, ORY, on behalf of the user. Investors need to hold ORY in their wallets in order to qualify for generous rebase rewards, paid out hourly at a daily rate of 0.177%. This totals an impressive fixed rate of 90% APY compounded. This rate is guaranteed, negating the pull of inflation that inevitably eats away at your profit margins.
We wait with interest to see how the French cryptocurrency market develops, with major exchanges like Binance and Crypto.com leading the way. This move will likely encourage many new French investors to add digital assets to their portfolios. Oryen Network supports new users in their entry to the market, as gains are paid without any required understanding of the complexities of farming and staking, which can be a barrier to buying cryptocurrency. As Oryen is in its first phase of ICO, now is the ideal time to purchase ORY at a low price.
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