Crypto.com Acquires Fintek Securities to Expand Global Trading Platform

The prominent digital currency exchange, Crypto.com, has recently added Australian broker Fintek Securities to its corporate suite, a strategic expansion that promises to diversify its trading services to encompass stocks on Australian and global markets.

Headquartered in Singapore, Crypto.com first emerged in 2016 and has impressively surpassed 100 million users globally just this year. Following closely behind last month’s incorporation of US-based brokerage Watchdog Capital, which advanced its US offerings to include stock and options trading, this latest acquisition furthers Crypto.com’s entrenchment in the traditional finance industry.

Moreover, this move comes three years post the acquisition of the North American Derivatives Exchange, enhancing derivatives and futures trading options for its clientele in the United States.

With the addition of Melbourne’s Fintek Securities, holder of an Australian Financial Services Licence and operating under the Australian Securities and Investments Commission’s regulation, Crypto.com pledges to unlock a vast selection of financial instruments for its users. This roster includes but is not limited to various deposit products, derivatives, equities, foreign currency exchange, and managed investment plans.

Kris Marszalek, CEO of Crypto.com, commented on the growth trajectory, stating, “Forming the most inclusive package of financial solutions for our customers is a core mission, and this acquisition marks a significant advancement on that path,” articulating the company’s vision of creating a unified financial services hub that streamlines user experiences while optimizing rewards.

Vakul Talwar, Crypto.com’s Australian general manager, considers the procurement of Fintek Securities a significant leap forward in offering top-tier products and services globally. Talwar reveals the planned introduction of stock trading on various exchanges including the Australian Securities Exchange, London Stock Exchange, and prominent American exchanges such as NYSE and NASDAQ.

Furthermore, Talwar explains that Crypto.com users who meet eligibility requirements can expect a unified application interface that manages diverse investment assets, from equities to contract for differences (CFDs) across multiple asset classes for both retail and advanced investors. More comprehensive updates on this are anticipated in the near future.

Talwar also points out the positive implications of this merger for Crypto.com’s Australian market penetration, not only in terms of product expansion but also in propelling the mainstream uptake of cryptocurrency and bolstering the local user base.

“Our aspiration to seamlessly blend conventional monetary services with the realm of digital assets continues to propel our efforts. The forthcoming assimilation of traditional brokerage functionality into our app is just one of the ways we’re shaping this vision,” he conveyed.

Noting the current embryonic state of cryptocurrency regulation in Australia, Crypto.com expresses its commitment to close collaboration with government bodies and ASIC to promote regulatory clarity and looks forward to announcing additional initiatives as per their 2025 product roadmap promptly.

While the financial particulars of the Fintek Securities acquisition remain undisclosed, ASIC records indicate a transaction exceeding $2 million for Fintek by Foris Holdings’ Australian arm, a Singaporean conglomerate linked to Crypto.com, featuring directors such as Crypto.com’s CFO and co-founder Rafael Melo, alongside executive Vakul Talwar of Crypto.com Australia.