Crypto.com acquires Fintek Securities to expand financial services


Crypto.com has acquired Fintek Securities Pty Ltd

Crypto.com has acquired Fintek Securities Pty Ltd. (Fintek), an Australian brokerage firm regulated by the Australian Securities and Investments Commission.

This acquisition aims to improve Crypto.com's ability to offer a broader range of financial products to eligible users, including deposit products, derivatives, securities, foreign exchange, and managed investment schemes. The deal follows Crypto.com's earlier acquisition of Watchdog Capital, LLC, a SEC-registered firm, which aimed to strengthen its traditional brokerage capabilities. This latest move continues the company’s strategy to diversify its service offerings and enhance its product range.

In the company press release, officials from Crypto.com stated that the company’s goal is to expand its financial services portfolio, aiming to create a single platform where customers can access a comprehensive suite of financial tools and maximize rewards. This acquisition is part of a broader strategy that includes recent developments such as the Crypto.com product roadmap for 2025 and the launch of its Level Up rewards programme, marking significant steps in the company's evolution. Other developments from Crypto.com In November 2024, Ingenico and Crypto.com announced a new partnership to introduce cryptocurrency payments to Ingenico’s merchant platform globally.

The partnership enabled Ingenico merchants to accept crypto payments through a ‘plug-and-play’ solution, which allows for fund settlement in local currencies, including EUR, GBP, AUD, and USD. An important feature of this offering is Ingenico’s newly developed merchant wallet, designed to operate on AXIUM Android terminals, which simplifies merchant engagement with cryptocurrency payments alongside traditional methods. The new wallet functionality aimed to enhance ease of use by integrating crypto payments seamlessly into existing systems, allowing merchants to manage transactions without the complexities of currency conversion or added risk from crypto volatility.

In October 2024, Crypto.com announced a collaboration with Beyon Money to explore ways to integrate and optimise capabilities in transaction and payments scape for clients in Bahrain. In addition, both firms signed an MOU to combine Beyon Money’s expertise as a payment platform and financial super-app with Crypto.com’s core offerings and proven retail products, aiming to improve the overall experience of their clients. .


Nov 15, 2024 14:56
Original link