- Crypto.com acquires Fintek to offer equities trading on Australian and global stock exchanges.
- The acquisition boosts Crypto.com's app with seamless integration of diverse financial products.
- Crypto.com strengthens crypto adoption in Australia, collaborating with regulators for clearer frameworks.
Crypto.com has acquired Melbourne-based Fintek Securities to broaden its financial services in Australia and around the globe. This acquisition will enable customers to trade shares on both Australian and foreign stock markets. The move boosts Crypto.com's position in traditional finance and expands its app capabilities.
Crypto.com Expands Services with Fintek Acquisition
Crypto.com, founded in 2016 and located in Singapore, currently serves more than 100 million consumers worldwide. The company recently acquired Watchdog Capital, a US-based firm, with the goal of providing stock and equity options trading services to American clients.
Integration of Equities Trading and Financial Products
Fintek Securities is registered with the Australian Securities and Investments Commission and holds an Australian Financial Services Licence. The acquisition will give Crypto.com members access to stocks, derivatives, foreign currency, deposit products, and managed investment schemes. These services will be integrated directly into the company's app, streamlining financial asset management.
Crypto.com's CEO, Kris Marszalek, noted that this move is consistent with the company's mission to build a unified financial platform. He also stated that streamlining the user experience while increasing rewards remains a top priority.
Strengthening Crypto Adoption
Vakul Talwar, Australian general manager, emphasized the significance of this purchase for local market growth. He announced plans to introduce equity trading on exchanges such as the Australian Securities Exchange, NYSE, and NASDAQ. The company will also provide contracts for differences (CFDs) to regular and advanced investors.
Talwar stressed that the acquisition would increase cryptocurrency acceptance and Crypto.com's Australian user base. He promised that the corporation is working with regulators to establish clearly defined guidelines. He stated that coordination with the government and ASIC is essential for connecting traditional banking and digital assets.
According to ASIC documents, Crypto.com paid more than $2 million for Fintek through its Australian business. This strategic investment demonstrates the company's commitment to merging traditional and digital financial services.
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