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Crypto.com Broadens U.S. Services With Watchdog Capital Acquisition

Crypto.com expands U.S. trading services by acquiring Watchdog Capital, blending digital and traditional finance for a new trading era.

3 minNovember 1, 2024November 1, 2024

Highlights:

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Crypto.com acquires Watchdog Capital to expand U.S. trading services and offer equity products.

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The acquisition enables integration of traditional finance with digital trading options for users.

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Crypto.com enhances accessibility through partnerships, aiming for innovative solutions in the U.S. market.

Crypto.com Broadens U.S. Services With Watchdog Capital Acquisition

On October 31, Crypto.com announced a major expansion in U.S. trading services. The platform acquired Watchdog Capital, LLC, a registered broker-dealer with the SEC. This acquisition marks a significant moment for Crypto.com, as the company will now blend traditional and digital financial services. 

 

A New Era for Crypto.com

 

This acquisition allows the U.S. subsidiary to offer securities products under a regulated framework. Crypto.com is moving beyond just cryptocurrency offerings, integrating various financial tools. Watchdog Capital, founded by digital assets advocate Bruce Fenton, aligns perfectly with this vision.

 

 

Kris Marszalek, CEO of Crypto.com, emphasized a strong commitment to merging traditional finance with a digital-first approach. Upcoming product offerings promise to enhance the experience 

 

This expansion fits well with industry trends. Companies like Robinhood have also acquired crypto-focused platforms to strengthen market presence in the European Union. As firms adapt to market changes, Crypto.com’s push for traditional financial assets signals a meaningful shift.

 

Navigating Challenges and Legal Battles

 

Recently, Crypto.com took legal action against the SEC. Marszalek publicly criticized the SEC for overstepping its authority. This lawsuit reflects broader challenges facing the cryptocurrency sector as it seeks legitimacy.

 

Founded in Singapore, Crypto.com launched U.S. services in March 2022. Initially, the platform focused on institutional investors but paused some services in June 2023 due to low demand. 

 

Despite these changes, Crypto.com remains active for many U.S. users, now claiming over 100 million global users. The platform also enhanced offerings through a partnership with Standard Chartered Bank. 

 

Users in more than 90 countries can now deposit and withdraw fiat currencies like U.S. dollars and euros. Recent achievements include launching UpDown Options, the first CFTC-regulated crypto derivatives product. 

 

Additionally, the platform introduced PayPal as a payment method, making transactions smoother. With the acquisition of Watchdog Capital, Crypto.com is ready to redefine its U.S. market presence, paving the way for innovative trading solutions.

 

 

 

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