Digital asset exchange has received approval from Italian regulators to offer its services in the Mediterranean country, a move the company says is in line with its vision of “bringing sustainable growth to the region.”

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Tuesday announced that it has officially received registration and regulatory approval from Organismo Agenti e Mediatori, also known as OAM, Italy’s main anti-money laundering regulator. The approval effectively gives the ability to offer its products and services to Italian customers.

- Advertisement - claims to have over 50 million customers worldwide. In recent months, the exchange has received regulatory licenses to operate in Greece, Singapore and Dubai.

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Italy is the third largest market in the European Union by gross domestic product and crypto service providers are aiming to expand the country. U.S.-based cryptocurrency exchange Coinbase recently received OAM approval to start operations in the Mediterranean country, Cryptooshala reports. In May, Binance received an OAM green light to serve the Italian market.

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Despite the fact that the regulations an approach to cryptography is far from uniform, the government is committed to promoting the adoption of blockchain technology. Earlier this month, the Italian Ministry of Economic Development announced that some blockchain projects could qualify for government subsidies of up to $46 million.

Meanwhile, in June, Italy’s main stock exchange, Borsa Italiana, listed a so-called “bitcoin-themed” exchange-traded fund that provides access to BTC to Italian institutional investors and pension planners.