Crypto.com Acquires Allnew Investments for MiFID License in Europe

Crypto exchange Crypto.com acquired AN Allnew Investments to obtain a license for offering derivatives in the European Economic Area (EEA). The Markets in Financial Instruments Directive (MiFID) license was granted by the Cyprus Securities and Exchange Commission (CySEC) and allows Crypto.com to provide various financial products across 27 EU nations, along with Iceland, Liechtenstein, and Norway.

This acquisition enhances Crypto.com's presence in Europe. In January, the company secured a Markets in Crypto Assets (MiCA) license for crypto custody and exchange services in the EEA. The financial terms of the acquisition were not disclosed.

Several crypto exchanges are entering the derivatives market. Rivals such as Gemini and Kraken have also obtained MiFID licenses. Kraken's license was acquired through a similar purchase. Recently, Coinbase acquired the options platform Deribit for $2.9 billion to strengthen its U.S. derivatives market position.