Cryptocurrency trading platform Currency.com has ceased operations in Russia

Currency.com is based in London with offices in Gibraltar and Vilnius. In addition, the platform confirmed that its decision to withdraw from Russia will not have an impact on its services in other countries and regions.

Capital.com's sister company Currency.com made this decision at a time when the platform is seeing a significant increase in demand. According to the financial giant, their customer base expanded by 130 percent in the first six months of 2021.

Reaction to Russian aggression

Russia's invasion of Ukrainian lands began in late February, following the bombardment of sanctions imposed by Western governments. These sanctions not only shook the Russian economy, but also forced foreign companies doing business in Russia to reconsider their presence.

Several financial services companies began delaying the onboarding process for new Russian clients, but they are now suspending all activities in the country and in Belarus, Russia's only European ally.

Denmark-based Saxo Bank recently suspended its operations in Russia and Belarus. Other companies, such as Dugosberg Bank and JustForex, have previously suspended their operations in both countries. These are only trading companies; hundreds of other foreign financial and other companies have stopped doing business in Russia.