Crypto.com, a renowned cryptocurrency exchange, has purchased Fintek Securities, a Melbourne-based brokerage firm, as part of its expansion into Australia. This acquisition allows Crypto.com to offer a broader range of traditional financial products, such as shares, derivatives, and forex trading, in addition to its existing cryptocurrency offerings.
Fintek is a licensed entity under the Australian Securities and Investments Commission (ASIC) with an Australian Financial Services Licence. This strategic acquisition enables Crypto.com to offer trading access to Australian and worldwide stock markets like the Australian Securities Exchange (ASX), London Stock Exchange (LSE), New York Stock Exchange (NYSE), and Nasdaq.
According to Vakul Talwar, Crypto.com’s general manager for Australia, this milestone represents a significant step forward in the company’s attempts to bridge the gap between traditional banking and digital assets. By combining traditional brokerage features, Crypto.com hopes to provide consumers with a unified platform for managing different investment portfolios that include both digital currencies and traditional assets.
This move comes after Crypto.com recently acquired Watchdog Capital, an SEC-registered broker-dealer based in the United States. With these purchases, the platform is positioning itself to become a worldwide hub for multi-asset trading, serving customers in both Australia and the United States.
Talwar also stressed Crypto.com’s commitment to promoting clear and comprehensive cryptocurrency legislation in Australia. The company actively interacts with government authorities and ASIC to help establish a strong regulatory environment and ensure that its activities meet local compliance standards.
As the financial landscape evolves, Crypto.com’s efforts to integrate traditional and digital finance enable innovative investment solutions to expand their global reach.
