Crypto.com announced recently the acquisition of a SEC registered broker-dealer and member of FINRA and SIPC, Watchdog Capital, LLC.
This strategic acquisition should now enable Crypto.com’s new subsidiary to offer equities and equity options (among other things) to “eligible traders in the U.S.”
Kris Marszalek, CEO of Crypto.com said they are focused on “aggressively” working towards integrating traditional financial tools with digital financial capabilities and are doing so while maintaining their focus on building responsibly “with the necessary licenses and registrations to operate as the industry’s leader.”
Kris added that they are now confident in the future of the U.S. market as they see growing bipartisan support for their industry.
Kris also noted that this acquisition furthers the capabilities of the Crypto.com family of companies through “a fully registered broker dealer.”
With this acquisition, the Crypto.com family of companies will offer users in the U.S. the ability to engage with stocks and options markets.
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, MD, Global Head of Capital Markets of Crypto.com said that consumers and traders want to “engage in the digital-first trading environment of today’s comprehensive market.”
They added that with this latest acquisition, they take another key step forward in offering “a top-tier global financial trading and services solution.”
This is said to be the latest “significant” product milestone for Crypto.com, including the launch of UpDown Options, the first CFTC-regulated crypto derivatives product and offered by CFTC-regulated Crypto.com | Derivatives North America, adding PayPal “as a payment method, launching global retail services powered by Standard Chartered, and the Crypto.com Exchange becoming the world’s number one USD-supporting exchange.”
Established back in 2016, Crypto.com claims that it is trusted by more than 100 million customers worldwide and is focused on regulatory compliance, security and privacy.
Their vision is: Cryptocurrency in Every Wallet.
Crypto.com said that it remains committed to accelerating the adoption of cryptocurrency via innovation.
As noted in the update, Watchdog Capital, LLC is a broker-dealer registered with the Securities Exchange Commission and a Member of FINRA and SIPC.
As clarified in the announcement, Watchdog Capital is a “separate” entity from Crypto.com, Foris DAX, Inc., and other “affiliated Foris companies.”