🎉 Singapore-based platform Crypto.com🇸🇬 obtains MiFID license and prepares to expand in Europe

🎉 Singapore-based platform Crypto.com🇸🇬 obtains MiFID license and prepares to expand in Europe

MiFID — the Markets in Financial Instruments Directive — is a regulatory framework that authorizes not only securities trading, but also services related to derivatives, contracts for difference (CFDs), and other financial instruments.

▶️ Background: In January of this year, Crypto.com obtained a MiCA license, allowing it to operate across the European Economic Area under the crypto-assets regulatory framework. As part of its strategy to expand its product and service offerings, the company acquired AN Allnew Investments Ltd (Allnew), a licensed firm regulated by the Cyprus Securities and Exchange Commission🇨🇾 (CySEC).

▶️ Expansion: Through this acquisition, Crypto.com is broadening its scope beyond the crypto space by incorporating traditional financial services. This move will help the company attract a wider investor base and strengthen its competitive position within the European financial sector.

▶️ Direct competition: Kraken has also expanded its operations in Europe by launching a crypto derivatives platform, further intensifying competition in this market segment.

#news #Europe #crypto

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