How Crypto.com is chipping away at the traditional stock market, one market at a time

How Crypto.com is chipping away at the traditional stock market, one market at a time

Two scholarships for one anotherCrypto.com (CRO) is ready to pay over $200 million to buy two exchanges in the United States. This acquisition will allow the platform to improve its game in the field of derivatives.

According to a press release dated 1er December 2021, Crypto.com bought for an amount of 216 million dollars, two Chicago-based exchanges of IG Group Holdings Plc, the North American Derivatives Exchange (Nadex) and the Small Exchange. Crypto.com will buy IG’s nearly 40% stake in the Small Exchange. The transaction is subject to regulatory approval. It should be concluded during the first half of 2022.

Both exchanges are registered with the CFTC. The Nadex allows individuals to trade derivatives such as binary options, call spreads and Touch Bracket (“knock-out”) contracts. The Small Exchange offers smaller by-products, particularly suitable for novice traders and investors with relatively modest capital. The Small Exchange is known for its futures contracts.

Crypto.com will thus be able to offer traditional financial instruments to its American customers. Crypto.com CEO Kris Marszalek said the acquisition “will give our customers access to an entirely new set of financial tools. »

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Crypto.com continues to line up millions of dollars for its development. Its investments this time aim to implement an external growth strategy, while the platform has put on the table in 2021, huge amounts for its marketing. Crypto.com recently struck a $700 million deal with AEG to buy the Staples Center naming rights for 20 years.

Crypto.com is also gradually sharpening its arguments to attract institutional investors. It has partnered with cryptocurrency-focused Silvergate Bank to enable its institutional clients to make direct dollar deposits and withdrawals.

Crypto exchanges are improving their ecosystem by acquiring multi-million dollar companies that are strategic for their development. Crypto.com sets its sights on two American exchanges to be able to offer new products, while Coinbase seems to have found its happiness in Israel by buying a cryptographic security company.

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