Crypto.com Acquires Fintech, Bolsters Australian Presence

• Crypto.com secures the Australian-based brokerage firm Fintek Securities Pty Ltd.
• The move expands Crypto.com’s footprint in Australia, enhancing its multiple service offerings.
• The acquisition marks Crypto.com’s second major move to establish traditional brokerage capabilities.

Crypto.com, a Singapore-based crypto exchange, has acquired Fintek Securities Pty Ltd., an Australian licensed brokerage firm. The acquisition expands Crypto.com’s footprint in Australia, enhancing its offerings with a broader suite of financial products. The offerings include deposit products, derivatives, securities, foreign exchange, managed investment schemes, and other products.

Kris Marszalek, CEO of Crypto.com, has been vocal about the exchange’s purchase of the brokerage firm regulated by the Australian Securities and Investments Commission. In an official blog post on November 14, he stated,

The path of the Crypto.com roadmap is to expand our offering ambitiously by providing customers with the most comprehensive set of financial services, and this acquisition is the latest step in that direction. The goal is to create one destination for all financial services where users can simplify their experience and maximise rewards.

Crypto.com’s strategic acquisition of Fintek Securities marks the platform’s second major move to establish traditional brokerage capabilities. Initially, Crypto.com purchased Watchdog Capital, a broker-dealer registered under the US Securities and Exchange Commission (SEC). The deal, announced on October 31, 2024, allowed Crypto.com to offer equities and equity options to eligible U.S. investors complying with the laws.

While the platform hasn’t disclosed further details of the Fintek acquisition, updates on the new services’ launch will be provided by the next week. The platform has also cited that the new services will be available only for “eligible candidates” without revealing the eligibility criteria.

The exchange’s recent expansion comes following significant developments in the ecosystem, including the Crypto.com product roadmap for 2025. In addition, Crypto.com secured an Australian license in late 2020 by acquiring The Card Group. However, as the platform has removed details regarding the purchase from its official site, there are assumptions that the deal has been unsuccessful.