Crypto.com acquires Australian broker Fintek Securities to expand financial services

Cryptocurrency exchange Crypto.com is strengthening its presence in Australia and expanding its range of financial products with the acquisition of licensed broker Fintek Securities.

Crypto.com has acquired Australia-based Fintek Securities, a licensed broker regulated by the Australian Securities and Investments Commission, as it expands its financial product offerings.

The acquisition will enable Crypto.com to offer a range of services to eligible users in Australia, including deposit products, securities, derivatives, foreign exchange and managed investment plans, the exchange said in a blog announcement on Thursday (Nov 14).

This is Crypto.com’s second acquisition, establishing traditional brokerage capabilities following its previous acquisition of US SEC-registered Watchdog Capital. The Watchdog deal, which closed on Oct. 31, positions Crypto.com to offer stocks and stock options to eligible U.S. investors under the regulatory oversight of the Financial Industry Regulatory Authority and the Securities Investor Protection Agency.

In a statement, CEO Kris Marszalek emphasized that the acquisition is part of Crypto.com’s goal to create a one-stop destination for financial services. He also emphasized that Crypto.com aims to offer a range of services, including both crypto derivatives and stock trading, through its subsidiaries by the end of this year.

Meanwhile, Crypto.com’s Maltese operator, Foris DAX MT, has recently come under scrutiny, with the Polish Financial Supervisory Authority adding the organization to its warning list on November 6 for allegedly providing unauthorized financial services in Poland. The case was referred to the district prosecutor’s office in Warsaw for further investigation.