Crypto.com, a Singapore-based crypto exchange operator, has announced today the acquisition of Fintek Securities Pty Ltd. This announcement comes exactly two weeks after it announced the acquisition of SEC-registered broker-dealer Watchdog Capital, LLC.
Fintek is a brokerage service and trading company that holds an Australian Financial Services Licence and is regulated by the Australian Securities and Investments Commission. Crypto.com announced on its website earlier today that it is set to acquire additional fintech securities to thrive in the recent bull rally.
Crypto.com cites plans for Fintek securities
The entity has stated that its goal with the acquisition is for the Crypto.com family of companies to be able to offer eligible users a broad range of financial products, including deposit products, derivatives, securities, foreign exchange, managed investment schemes, and more.
Kris Marszalek, CEO of Crypto.com, said, “The path of the Crypto.com roadmap is to ambitiously expand our offering by providing customers the most comprehensive set of financial services, and this acquisition is the latest step in that journey.”
Kris added, “The goal is to create one destination for all financial services where users can simplify their experience and maximize rewards.”
More information on the launch of these new services, which include derivatives and securities offerings for eligible exchange users, will be released in the weeks to come.
This latest acquisition highlights Crypto.com’s growing interest in traditional financial tools.
On October 31, when it acquired Watchdog Capital, LLC, the CEO said, “We are aggressively working towards integrating traditional financial tools with digital financial capabilities and are doing so while maintaining our focus on building responsibly with the necessary licenses and registrations to operate as the industry’s leader.”
Crypto.com has taken up many other projects, including the Crypto.com product roadmap for 2025 and the launch of Crypto.com’s most significant benefits and rewards experience ever through level-up.
Fintek Securities Pty Ltd. gives inroads into Australian market
Fintek Securities Pty Ltd. holds Australian Financial Services Licence No. 533278 and is regulated by the Australian Securities and Investments Commission. Australia has been on a path to regulate crypto unlike its Western allies. The purchase have paved a way for Crypto.com to thrive in Australia under its new crypto regime.
On matters regulation and crypto transparency, Fintek Securities highlights on its website that it is not suitable for everyone. It advises clients to be aware that they could lose substantially more than the initial investment.
As a client, one does not own or have rights in the underlying assets. They have also made clear that past performance is no indication of future performance and tax laws are subject to change.
Clients are also to consider whether they are part of our target market by reviewing the Fintek TMD and going through the PDS and other legal documents to ensure a full understanding of the risks before making any trading decisions.
Source: https://www.cryptopolitan.com/crypto-com-acquires-fintek-securities-pty/