Crypto.com Expands European Services With MiFID License Acquisition

Crypto.com has expanded its services in Europe by securing a MiFID (Markets in Financial Instruments Directive) license. This license was obtained through the acquisition of A.N. Allnew Investments Ltd, a Cyprus-based investment firm, with approval from the Cyprus Securities and Exchange Commission (CySEC). The license allows Crypto.com to offer a wider range of financial products, including stocks, derivatives, and contracts for difference (CFDs), to its European users.

Prior to this development, Crypto.com's primary focus was on cryptocurrency products. With the MiFID license, the company can now provide traditional financial services that were previously the domain of regular investment firms. This move is part of Crypto.com's broader strategy to combine crypto and traditional finance under a single legal structure in the European Union.

Crypto.com's acquisition of the MiFID license follows its earlier approval under the Markets in Crypto-Assets (MiCA) license, which was granted in mid-January. The MiCA license allows the company to offer crypto services such as wallets and exchanges to customers in all 30 EEA nations. By securing both the MiCA and MiFID licenses, Crypto.com can now provide a comprehensive range of services to customers looking for both crypto and traditional finance options in Europe.

Kris Marszalek, CEO of Crypto.com, highlighted the company's goal of gaining more licenses in Europe and other regions. He emphasized that having both licenses ensures that Crypto.com can provide all its services in different countries within one legal structure. This approach is part of a broader industry trend, with other crypto entities such as Gemini also pursuing MiFID licenses to expand their services in the European market.

Crypto.com's strategic acquisitions, including Fintek Securities, Charterprime, Orion Principals, and SEC-registered broker-dealer Watchdog Capital, demonstrate the company's commitment to expanding its financial services portfolio. The acquisition of A.N. Allnew Investments is a significant step in this direction, allowing Crypto.com to offer regulated crypto derivatives and other financial instruments to its European users.

The MiFID license is expected to enhance Crypto.com's credibility and trustworthiness, particularly among users seeking safe and legal ways to invest in both crypto and traditional assets. This development positions Crypto.com as a key player in the regulated crypto derivatives market and sets the stage for continued growth in the coming months.