Cryptocom Acquires SEC-Registered Broker Watchdog Capital

Crypto trading platform Cryptocom has expanded its reach in the United States with the acquisition of Watchdog Capital LLC. This firm is registered with the US Securities and Exchange Commission (SEC) as a broker-dealer. It is also a member of the FINRA and SIPC, a backing that can help Cryptocom expand its offerings in the country.

Cryptocom In Divergent Growth Phase

It is worth noting that the acquisition of Watchdog Capital will enable the trading platform to offer US customers access to stocks and the options market. This is the firm’s way of integrating core traditional financial products with its crypto native offerings overall.

Acquisitions in the crypto industry are not uncommon as they mark new ways to enter new territories. Like Cryptocom, Robinhood acquired Bitstamp earlier this year to broaden its foothold in the European Union. Considering the extensive regulatory embrace for these firms, their acquisition ends up boosting their parent company’s businesses overall.

Commenting on the acquisition, Cryptocom CEO Kris Marszalek, said the acquisition will help it offer stocks before the end of this year.

This acquisition is a massive step forward in bridging traditional and digital finance in the U.S. market.

By the end of this year, https://t.co/pFc4Pz9nFR will offer a full range of services through its family of companies, including crypto derivatives and now stocks:…

— Kris | Crypto.com (@kris) October 31, 2024

The trading platform said this latest update comes amid a series of new milestones it has inked recently. These includes the launch of CFTC-regulated UpDown Options and partnership with PayPal.

Fighting The US SEC Regulatory Oversight

This acquisition comes after the exchange sued the US SEC earlier this month. The exchange is contesting the regulator’s overreach with respect to digital currency oversight.

Officially, Cryptocom said the markets regulator is acting beyond its jurisdiction when it claimed most digital assets are investment contracts. With this lawsuit, the firm now ranks as one of the Web3 companies in the United States with active legal battle against the US SEC.

Some of the most prominent legal battles involves Ripple Labs and the SEC. With the case almost settled earlier, both parties have filed appeal that might elongate the case to next year or beyond. Ultimately, Cryptocom is driving a major revolution with its business moves, a trend that is shaping industry players’ perception.

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Godfrey Benjamin

Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.

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Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.