Singapore-based digital asset exchange Crypto.com has acquired US broker-dealer Watchdog Capital in a bid to launch stock trading for US clients.
The New Hampshire-based broker is registered with the Securities and Exchange Commission (SEC) and is a member of the Financial Industry Regulatory Authority (FINRA), a self-regulatory organization that sets and enforces rules for brokerage firms.
Crypto.com CEO Kris Marszalek say the acquisition is a “huge step forward” in terms of bridging crypto with traditional finance.
“We are working aggressively to integrate traditional financial instruments with digital financial capabilities and do this while maintaining our focus on building responsibly with the necessary licenses and registrations to operate as an industry leader.
We have tremendous confidence in the future of the US market as we see growing bipartisan support for our industry. This acquisition advances the capabilities of the Crypto.com family of companies through a fully registered broker-dealer.”
Marszalek say that Crypto.com will offer shares by the end of the year. The company also plans to offer stock options to US traders.
The Singaporean crypto company is the 38th largest centralized exchange in the world in terms of monthly visits, according to data from Coin gecko.
Don’t miss a beat – Subscribe to receive email alerts straight to your inbox
Check price action
Follow us further X, Facebook And Telegram
Surf to the Daily Hodl mix
Generated image: Midjourney
Credit : dailyhodl.com
