Crypto.com Expands Australian Presence with Strategic Fintek Securities Acquisition
Crypto.com has strengthened its foothold in the Australian financial market through the acquisition of Fintek Securities, a regulated brokerage and trading firm, marking a significant expansion of its service offerings in the region. The deal, announced on November 14, 2024, grants the Singapore-based cryptocurrency platform access to Fintek’s Australian Financial Services Licence (AFSL).
This strategic acquisition enables Crypto.com to broaden its product suite for eligible Australian users to include traditional financial instruments such as deposit products, derivatives, securities, foreign exchange, and managed investment schemes. The move represents a crucial step in bridging the gap between traditional finance and digital assets in the Australian market.
Vakul Talwar, Crypto.com’s general manager for Australia, emphasized the significance of the acquisition: “As part of this brokerage acquisition, we will be able to launch equities trading on Australian and international exchanges including, but not limited to, the Australian Securities Exchange, London Stock Exchange, New York Stock Exchange and Nasdaq.”
The Fintek Securities purchase comes as Crypto.com’s second major acquisition aimed at expanding its brokerage capabilities, following the October 2024 acquisition of SEC-registered Watchdog Capital in the United States. These strategic moves align with the company’s ambitious roadmap to create a comprehensive financial services platform.
“The goal is to create one destination for all financial services where users can simplify their experience and maximize rewards,” stated Kris Marszalek, CEO of Crypto.com, highlighting the company’s vision for a unified financial ecosystem.
The timing of this acquisition is particularly noteworthy as Australian regulators continue to develop their approach to cryptocurrency oversight. The Australian Securities and Investments Commission (ASIC) has recently signaled its intention to require crypto exchanges to obtain financial services licenses, making Crypto.com’s regulated status through Fintek particularly valuable.
While specific details about the launch of these new services remain under wraps, Crypto.com has indicated that further information regarding its derivatives and securities offerings will be shared in the coming weeks. The expansion follows several significant developments for the platform, including the unveiling of its 2025 product roadmap and the launch of an enhanced rewards program called “Level Up.”
This latest move by Crypto.com reflects a growing trend in the cryptocurrency industry, where companies are increasingly pursuing acquisitions to accelerate market entry and gain regulated status, rather than navigating the lengthy process of applying for licenses directly.
