Crypto.com Acquires SEC Registered Broker, Watchdog Capital to Expand Offerings in U.S.
The post Crypto.com Acquires SEC Registered Broker, Watchdog Capital to Expand Offerings in U.S. appeared first on Coinpedia Fintech News
In a bold and strategic move, Crypto.com has announced the acquisition of an SEC-registered broker-dealer and member of FINRA and SIPC, Watchdog Capital, LLC. This acquisition will enable Crypto.coms new subsidiary to offer equities and equity options, among other things, to eligible traders in the U.S.
The acquisition is set to significantly enhance Crypto.coms product offerings by introducing a robust array of investment channels, including stocks and options, specifically designed for eligible traders in the United States.
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 industrys leader, said Kris Marszalek, the CEO of Crypto.com.
The announcement further included that additional information on the new products and services available, including when and how to begin trading, will be shared with eligible customers of the broker-dealer.
Travis McGhee, Managing Director, Global Head of Capital Markets of Crypto.com stated With this latest acquisition, we take another big step forward in offering a top-tier global financial trading and services solution.
With this acquisition, Crypto.com is poised to meet the growing demand for diversified investment options in the cryptocurrency market, effectively appealing to both retail and institutional investors. By leveraging Watchdog Capitals capabilities, the platform aims to solidify its position in a competitive landscape while also adhering to the regulatory standards mandated by the SEC. This development underscores the evolving nature of digital asset platforms, as they transition towards compliance and a broader spectrum of financial services.
Commenting on the acquisition, Cryptocom CEO Kris Marszalek, said the acquisition will help it offer stocks before the end of this year.
The trading platform said this latest update comes amid a series of new milestones it has inked recently. These include the launch of CFTC-regulated UpDown Options and a partnership with PayPal.
Notably, the acquisition follows after the exchange sued the US SEC earlier this month. The exchange is challenging the regulators overreach concerning digital currency oversight.
Text source: Coinpedia – Fintech & Cryptocurreny News Media| Cr
