With the purchase of Watchdog Capital, a broker-dealer licensed with the Securities and Exchange Commission (SEC), Crypto.com has announced a significant expansion of its financial offerings in the US. The platform will soon be able to provide stocks, equity options, and other products to qualified traders as a result of this acquisition, greatly expanding its offerings beyond cryptocurrencies. In order to provide regulated and secure trading options, Watchdog Capital is also a member of the Securities Investor Protection Corporation (SIPC) and the Financial Industry Regulatory Authority (FINRA), as the statement from October 31 made clear.
Bruce Fenton, an enthusiast for digital assets, formed Watchdog Capital, which provides Crypto.com with an established regulatory framework. The CEO of Crypto.com, Kris Marszalek, emphasized the company’s dedication to incorporating conventional financial instruments into a legal, safe environment that enhances its current digital assets. Marszalek said, “Weâ€TMre focused on responsibly expanding our financial capabilities, combining both traditional and digital finance to better serve our clients in a regulated environment.”
This purchase supports Crypto.com’s continuous endeavors to offer a variety of trading options. Joining several cryptocurrency companies in challenging the SEC’s growing power over digital assets, Crypto.com filed a lawsuit against the agency after receiving a Wells notice as part of its latest expansion. Citing growing bipartisan support for digital finance, the corporation maintains its optimism about the U.S. industry despite regulatory obstacles.
Initially targeting institutional clients, Crypto.com entered the U.S. market in 2022 following its founding in Singapore. A brief halt in June 2023, however, was indicative of poor demand during a decline in the cryptocurrency market. With more than 100 million users worldwide, the platform has since started up again.
Along with increasing trading options in the United States, Crypto.com has partnered with Standard Chartered Bank to enable users in 90 countries to deposit and withdraw major fiat currencies, including the euro and the US dollar, using its app. The introduction of CFTC-regulated UpDown Options and a partnership with PayPal for simple payments are two further strategic expansion initiatives for Crypto.com that will expand its financial reach globally.
In order to satisfy the various needs of its clients and further the merger of traditional and digital finance, Crypto.com hopes to develop a platform that strikes a balance between regulatory compliance and a wide range of investment options as it proceeds with the Watchdog Capital acquisition.
