Crypto.com expands financial services with Fintek Securities acquisition
Crypto.com acquires Fintek, expanding its reach with regulated financial services in Australia
Crypto.com has officially acquired Fintek Securities Pty Ltd., an Australian brokerage and trading company licensed to provide financial services in Australia and regulated by the Australian Securities and Investments Commission (ASIC).
This acquisition is a significant step in Crypto.com's global expansion strategy, allowing the platform to offer a wider range of financial products to users, according to the exchange's website.
Expanding the range of financial products
By integrating Fintek into its operations, Crypto.com will be able to offer various traditional financial products, such as deposit accounts, derivatives, securities, foreign exchange services, and managed investment schemes. This extensive range of offerings is designed to meet the diverse needs of investors, combining traditional financial options with the innovative crypto solutions that Crypto.com is known for. Notably, this acquisition marks the second step for Crypto.com toward integrating traditional brokerage services, following its earlier purchase of Watchdog Capital, an SEC-registered broker-dealer in the United States.
Plans for introducing new financial services
“The path of the Crypto.com roadmap is to ambitiously expand our offerings by providing customers with the most comprehensive set of financial services, and this acquisition is the latest step in that journey,” emphasized Kris Marszalek, CEO of Crypto.com.
“The goal is to create a single destination for all financial services, where users can simplify their experience and maximize rewards,” he added.
Crypto.com plans to gradually roll out new financial services, with additional offerings in derivatives and securities for qualified Australian users expected in the coming weeks. Detailed information on these new products will be released gradually, as Crypto.com works closely with regulators to ensure compliance with all necessary requirements.
Previously, Crypto.com received full authorization from the Central Bank of Bahrain to provide payment service provider (PSP) services through its subsidiary, FORIS GFS BH B.S.C. CLOSED.
