Cryptocurrency
exchange Crypto.com has obtained a Markets in Financial Instruments Directive
(MiFID) license through its acquisition of Cyprus-based A.N. Allnew Investments
Ltd, the operator of LegacyFX trading brand, the company announced today (Wednesday).
The
acquisition, approved by the Cyprus Securities and Exchange Commission (CySEC),
allows Crypto.com to offer a broader range of traditional financial products to
eligible users across the European Economic Area (EEA), including securities,
derivatives, and contracts for difference (CFDs).
Crypto.com Acquires Allnew
Investments, Secures MiFID License for European Expansion
The move
follows Crypto.com’s January 2025 acquisition of a Markets in Crypto-Assets
(MiCA) license, which enabled the platform to passport its cryptocurrency
services throughout the European region. These dual authorizations position the
company to bridge traditional and digital asset markets under a unified
regulatory framework.
“Securing a
MiFID licence alongside our MiCA licence further solidifies Crypto.com’s
position in offering the most comprehensive and regulated suite of financial
products for users in the EEA,” said Kris Marszalek, Co-Founder and CEO of
Crypto.com. “We have already expanded our brand presence in Europe since
receiving our MiCA licence and we now look forward to providing customers
across the region even more ways to engage with our platform through these new
offerings.”
For
Crypto.com, the MiFID license represents the latest addition to its growing
regulatory portfolio. The company has pursued an aggressive acquisition
strategy, previously purchasing Fintek Securities, Charterprime, Orion
Principals, and SEC-registered broker-dealer Watchdog Capital.
CFDs Coming in Q3 2025
Plans to
add CFDs are not merely theoretical. Crypto.com’s product roadmap includes the
intention to launch FX, index, and commodities derivatives by the end of this
year, most likely in the third quarter.
This
suggests that the acquisition of LegacyFX, whose website remains active and
which is licensed by CySEC under license number 344/17, was aimed directly at
securing the regulatory approval needed to offer CFDs, which are popular in
Europe.
Purchase-to-License
This
acquisition aligns with a growing trend among major cryptocurrency exchanges
seeking to diversify their service offerings through established regulatory
channels. Rather than navigating lengthy application processes, these platforms
are increasingly pursuing acquisitions of licensed entities as an entry point
to regulated markets.
Crypto.com
joins other major exchanges like Kraken in adopting this approach. Just one day
prior, Kraken announced the launch of its own regulated derivatives trading
under MiFID II through Payward Europe Digital Solutions, following its
acquisition of futures platform NinjaTrader earlier this month.
The
derivatives sector has become a focal point of expansion for cryptocurrency
platforms seeking growth beyond spot trading. Earlier this month, U.S.-based
Coinbase acquired derivatives platform Deribit, with CEO Brian Armstrong
signaling continued interest in strategic acquisitions.
With both
MiFID and MiCA licenses secured, Crypto.com now has the regulatory clearance to
offer one of the most comprehensive product suites in the European
cryptocurrency market.
This article was written by Damian Chmiel at www.financemagnates.com.
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