In a tactical move to expand its presence in the United States, Crypto.com has announced its acquisition of Watchdog Capital LLC.
In an official press release, Crypto.com stated: "Crypto.com announced today the acquisition of the SEC registered broker-dealer and member of FINRA and SIPC, Watchdog Capital, LLC."
The acquisition will allow Crypto.com to offer equities and equity options alongside its existing crypto services for eligible US traders. Furthermore, it is also part of an elaborate plan to merge the exchange’s crypto-native offerings and core traditional financial entities.
As a registered broker-dealer with the US Securities and Exchange Commission (SEC), Watchdog offers a platform for traditional asset trading for investors in the United States. These assets include stocks and bonds.
In an October 31 X Post, Crypto.com CEO Kris Marzalek expressed optimism over the acquisition. Part of his tweet read thus: “This acquisition is a massive step forward in bridging traditional and digital finance in the US market.”
Crypto.com New Acquisition Offers Opportunities for American Investors
It is worth noting that Crypto.com's latest acquisition could usher American investors into an era of streamlined crypto and traditional assets trading. Interestingly, the procurement implies it will offer both trading options via a single platform. Consequently, it will allow stock and crypto traders to explore alternative forms of finance seamlessly.
While a fixed date for the offerings remained undisclosed, CEO Kris Marzalek’s X post hinted at a possible timeframe. The CEO wrote: “By the end of this year, Crypto.com will offer a full range of services through its family of companies, including crypto derivatives and now stocks.”
This acquisition is a massive step forward in bridging traditional and digital finance in the U.S. market.
— Kris | Crypto.com (@kris) October 31, 2024
By the end of this year, https://t.co/pFc4Pz9nFR will offer a full range of services through its family of companies, including crypto derivatives and now stocks:…
Crypto Space Acquisition Trends
Notably, acquisitions are becoming increasingly common in the crypto industry, serving as portals for companies seeking to explore opportunities. For instance, Robinhood acquired Bitstamp earlier this year to expand its European Union presence. Luckily, the deal was successful, resulting in an overall business boost for the parent firm.
