Crypto.com bought Allnew Investments to secure MIFID’s license to offer derivatives in Europe
Crypto exchange Crypto.com It is said to buy an allnew investment to obtain a license that allows it to offer derivatives throughout the European Economic Area (EEA).
The License of the Markets in Financial Instruments Directive (MIFID) was issued to the Allnew of the Cyprus Securities and Exchange Commission (CSEC), the exchange said in a website posting. It provides the exchange of rights to offer a set of financial products to 27 European Union countries next to Iceland, Liechtenstein and Norway.
This acquisition is the presence of crypto.com in Europe. The exchange gets a market with crypto assets (MICA) License in January So it can offer crypto preservation and exchange services throughout EEA. The company refused to say how much it paid for allnews.
Crypto exchanges have switched to derivatives to unlock new revenue sources. The company joins rivals including Gemini and Kraken In the availability of Mifid licenses to offer derivatives in Europe. Kraken’s license was also obtained by taking with -handles. Earlier this month, Coinbase spent $ 2.9 billion to buy Platform Options Deribit To strengthen its position in the US derivatives market.
