Crypto.com buys Australian brokerage service and trading company Fintek Securities
Singapore-based cryptocurrency platform Crypto.com has acquired Fintek Securities, an Australian brokerage service and trading company, for an undisclosed sum.
Crypto.com acquires Fintek Securities for an undisclosed sum
Operating from Melbourne, Fintek Securities offers a trading solution tailored to facilitate the buying and selling of contracts for difference (CFDs) and FX trading.
The company holds an Australian Financial Services Licence and is regulated by the Australian Securities and Investments Commission. Crypto.com now aims to leverage this licence to offer eligible Australian customers access to products including managed investment schemes, derivatives, securities, deposit accounts, foreign exchange, and more.
Crypto.com has stated that it will provide more details on the launch of its upcoming services “in the coming weeks”.
The move marks Crypto.com’s second acquisition in recent weeks, following its deal in October to acquire Watchdog Capital, a US-based broker-dealer registered with the SEC. Through this purchase, the company aims to offer equities, equity options, and other services to US traders.
Since its inception in 2016, Crypto.com has grown to serve over 100 million customers globally. The company landed an EMI licence from the UK’s FCA last year to introduce e-money products to the UK market, while in 2022, it also secured Electronic Financial Transaction Act (EFTA) and Virtual Asset Service Provider (VASP) registration in South Korea through the acquisitions of local payment service provider PnLink and virtual asset service provider OK-BIT.
