Crypto Exchange Crypto.com said he bought new investments to obtain a license that allows him to offer derivatives throughout the European economic area (EEE).
The license of the Financial Instruments Directive (MIFID) was issued to AllNew by the Cyprus Stock Exchange and Securities Commission (CYSEC), the exchange in a website publication said. It gives the exchange the right to offer a range of financial products in the 27 nations of the European Union together with Iceland, Liechtenstein and Norway.
This acquisition reinforces the presence of Crypto.com in Europe. The exchange assured a market in the cryptographic asset license (MICA) in January so that it could offer custody services and cryptography exchange throughout the EEE. The company refused to say how much paid for AllNews.
Encryption exchanges have moved to derivatives to unlock new sources of profits. The company joins rivals, including Gemini and Kraken to obtain MiFID licenses to offer derivatives in Europe. Kraken’s license was also obtained by acquiring the holder. Earlier this month, Coinbase spent $ 2.9 billion to buy the Deribit platform options to strengthen its position in the United States derivative market.
