Cryptocurrency
trade Crypto.com has obtained a Markets in Monetary Devices Directive
(MiFID) license by way of its acquisition of Cyprus-based A.N. Allnew Investments
Ltd, the operator of LegacyFX buying and selling model, the corporate introduced in the present day (Wednesday).
The
acquisition, accredited by the Cyprus Securities and Change Fee (CySEC),
permits Crypto.com to supply a broader vary of conventional monetary merchandise to
eligible customers throughout the European Financial Space (EEA), together with securities,
derivatives, and contracts for distinction (CFDs).
Crypto.com Acquires Allnew
Investments, Secures MiFID License for European Enlargement
The transfer
follows Crypto.com’s January 2025 acquisition of a Markets in Crypto-Belongings
(MiCA) license, which enabled the platform to passport its cryptocurrency
companies all through the European area. These twin authorizations place the
firm to bridge conventional and digital asset markets beneath a unified
regulatory framework.
“Securing a
MiFID licence alongside our MiCA licence additional solidifies Crypto.com’s
place in providing essentially the most complete and controlled suite of economic
merchandise for customers within the EEA,” mentioned Kris Marszalek, Co-Founder and CEO of
Crypto.com. “Now we have already expanded our model presence in Europe since
receiving our MiCA licence and we now look ahead to offering clients
throughout the area much more methods to have interaction with our platform by way of these new
choices.”
For
Crypto.com, the MiFID license represents the most recent addition to its rising
regulatory portfolio. The corporate has pursued an aggressive acquisition
technique, beforehand buying Fintek Securities, Charterprime, Orion
Principals, and SEC-registered broker-dealer Watchdog Capital.
CFDs Coming in Q3 2025
Plans to
add CFDs will not be merely theoretical. Crypto.com’s product roadmap contains the
intention to launch FX, index, and commodities derivatives by the top of this
12 months, most certainly within the third quarter.
This
means that the acquisition of LegacyFX, whose web site stays lively and
which is licensed by CySEC beneath license quantity 344/17, was aimed instantly at
securing the regulatory approval wanted to supply CFDs, that are widespread in
Europe.
Buy-to-License
This
acquisition aligns with a rising development amongst main cryptocurrency exchanges
in search of to diversify their service choices by way of established regulatory
channels. Somewhat than navigating prolonged software processes, these platforms
are more and more pursuing acquisitions of licensed entities as an entry level
to regulated markets.
Crypto.com
joins different main exchanges like Kraken in adopting this strategy. Simply at some point
prior, Kraken introduced the launch of its personal regulated derivatives buying and selling
beneath MiFID II by way of Payward Europe Digital Options, following its
acquisition of futures platform NinjaTrader earlier this month.
The
derivatives sector has turn out to be a focus of enlargement for cryptocurrency
platforms in search of development past spot buying and selling. Earlier this month, U.S.-based
Coinbase acquired derivatives platform Deribit, with CEO Brian Armstrong
signaling continued curiosity in strategic acquisitions.
With each
MiFID and MiCA licenses secured, Crypto.com now has the regulatory clearance to
supply some of the complete product suites within the European
cryptocurrency market.
This text was written by Damian Chmiel at www.financemagnates.com.
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