Crypto.com is really making moves in Europe, huh? They recently bought AN Allnew Investments to get themselves a sweet MiFID license that allows them to offer derivatives in the European Economic Area (EEA). This license was issued by the Cyprus Securities and Exchange Commission (CySEC) to Allnew, and now Crypto.com can offer a whole range of financial products in the EU and a few other neighboring countries. This acquisition is a big deal for Crypto.com, as it adds to their already impressive presence in Europe. Back in January, they snagged a MiCA license that let them offer crypto custody and exchange services across the EEA. Looks like they’re really serious about expanding their reach in the region.
It’s not clear how much Crypto.com shelled out for Allnew, but hey, they must have thought it was worth it. Other crypto exchanges like Gemini and Kraken are also jumping on the derivatives bandwagon in Europe. Kraken even got their MiFID license through an acquisition, just like Crypto.com. And let’s not forget about Coinbase, who recently dropped a cool $2.9 billion to buy the options platform Deribit and strengthen their position in the U.S. derivatives market. The competition is heating up, and it seems like everyone wants a piece of the derivatives pie.
Camomile Shumba, a regulatory reporter for CoinDesk based in the UK, seems to be all over this story. She’s interned at Business Insider and Bloomberg, and her work has been featured in various publications. Shumba studied politics, philosophy, and economics at the University of East Anglia before pursuing a postgraduate degree in multimedia journalism. While she was at university, she even had her own award-winning radio show. It’s clear that Shumba knows her stuff when it comes to finance and crypto, and she’s not afraid to dive deep into the nitty-gritty details.
Overall, Crypto.com’s latest move in Europe is a testament to their commitment to expanding their presence in the region. With the acquisition of AN Allnew Investments and the newly acquired MiFID license, they are well-positioned to offer a wide range of financial products to customers across the EEA. This strategic move puts them in direct competition with other major players in the crypto space, who are also vying for a piece of the derivatives market. It will be interesting to see how Crypto.com leverages this new license to further solidify their position in Europe and beyond.
