Odaily Planet Daily News Crypto.com announced that it has acquired Allnew Investments to obtain the Markets in Financial Instruments Directive (MiFID) license issued by the Cyprus Securities and Exchange Commission (CySEC), so that it can provide derivatives services throughout the European Economic Area (EEA).
The license covers the 27 EU countries as well as Iceland, Liechtenstein and Norway. Crypto.com previously obtained the EU Crypto Asset Market (MiCA) license in January this year, which allows it to provide custody and trading services within the EEA. The transaction amount has not been disclosed.
Crypto.com's move is consistent with exchanges such as Gemini and Kraken, which have acquired MiFID licenses through acquisitions to layout the European derivatives market. Coinbase also spent $2.9 billion to acquire Deribit earlier this month to enhance its competitiveness in the US derivatives field. (CoinDesk)