- Crypto.com extends into Australia, offering regulated services.
- A new acquisition expands Crypto.com’s global service options.
Crypto.com is expanding on the international level and announced purchasing Fintek Securities Pty Ltd, an Australian licensed brokerage firm ASIC regulated. This acquisition will allow it to offer a wider range of regulated financial services to its customers in Australia, which includes securities, derivatives, and foreign exchange.
Thus, buying Fintek Securities is an important step for Crypto.com to make its platform evolve into a financial hub of all things. This would mean that the exchange will be able to offer traditional financial products alongside the already existing crypto offers.
Crypto derivatives and traditional stock trading are set to go live before the end of the year. Here is also what CEO Kris Marszalek emphasizes the creation of one platform through which users would have fluid, rather than cumbersome access to a wide range of financial services that bridges both digital and traditional finance.
Challenges and Global Expansion
The change also allows Crypto.com to expand its product line of deposits, foreign exchange, and investment possibilities which are undertaken and regulated under Fintek’s Australian Financial Services Licence. This expansion caters to Crypto.com’s approach on how to make things more accessible while integrating products that cover a more extensive user scope, making the user experience better as a whole.
While Crypto.com is spreading its wings across every corner of the globe, it is facing regulatory challenges. The exchange recently drew regulatory attention in Poland for trading without proper authorization as it found regulators pointing to its Maltese entity for investigation. Such regulatory hurdles notwithstanding, the latest acquisitions of Crypto.com in both Australia and the U.S. are crucial to its vision of becoming a truly global financial platform.
Apart from acquisitions, a partnership with the UEFA Champions League allows Crypto.com to bridge the worlds of sports and cryptocurrency to create brand recognition. It will be a big act for Crypto.com to drive engagement into the digital world of finances by millions of football fans, thus cementing its presence further in the global market.
