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Crypto.com Expanding into Australian Market with Fintek Securities Acquisition
Nov. 14, 2024. 2 mins. read.
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Crypto.com is acquiring Fintek Securities Pty Ltd., expanding into Australia's regulated market to offer a broad range of financial services, bridging traditional finance with digital capabilities.
Crypto.com, a Singapore-based crypto exchange operator, is acquiring Fintek Securities Pty Ltd., a move signaling its strategic push into the Australian market. The acquisition follows its recent purchase of SEC-registered broker-dealer Watchdog Capital, LLC, highlighting Crypto.com’s ambition to integrate traditional and digital financial services.
Fintek, a brokerage service and trading firm, holds an Australian Financial Services Licence and is regulated by the Australian Securities and Investments Commission. This acquisition aims to broaden Crypto.com’s offerings to eligible users, including deposit products, derivatives, securities, foreign exchange, and managed investment schemes.
Kris Marszalek, CEO of Crypto.com, stated, “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.” He added, “The goal is to create one destination for all financial services where users can simplify their experience and maximize rewards.”
The company plans to roll out new services, including derivatives and securities offerings for eligible users, with further details expected in the coming weeks. This acquisition emphasizes Crypto.com’s commitment to bridging traditional financial tools and digital capabilities.
On October 31, when acquiring Watchdog Capital, Marszalek emphasized their strategy: “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.”
Fintek’s regulatory compliance, including its Australian Financial Services Licence, positions Crypto.com favorably in Australia’s evolving crypto regulation landscape. Fintek’s website, however, warns potential clients about investment risks, emphasizing that past performance is no guarantee of future success and tax laws may change. This underscores the complexities and evolving nature of crypto investments within a regulated framework.
Source: Crypto.com acquires Fintek Securities Pty Ltd. in punt into Australian market
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