The Singapore-based digital asset exchange Crypto.com has acquired the US broker-dealer Watchdog Capital in an effort to launch equities trading for American customers.
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 creates and enforces rules for brokerage firms.
[adinserter block="1"]Crypto.com chief executive Kris Marszalek says the acquisition is a “massive step forward” in terms of bridging crypto with traditional finance.
“We are aggressively working towards integrating traditional financial tools with digital financial capabilities and are doing so while maintaining our focus on building responsibly with the necessary licenses and registrations to operate as the industry’s leader.
We are extremely confident in the future of the U.S. market as we see growing bipartisan support for our industry. This acquisition furthers the capabilities of the Crypto.com family of companies through a fully registered broker-dealer.”
Marszalek says that Crypto.com will offer stocks by the end of the year. The company also plans on offering equity options to US traders.
The Singaporean crypto firm is the 38th-largest centralized exchange in the world in terms of monthly visits, according to data from CoinGecko.
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