The Crypto.com exchange aims to offer derivatives and futures products to its US clients and for this it acquired Nadex and Small Exchange.
Crypto.comSingapore-based exchange with notable interest in entering the US market is becoming more and more powerful. The exchange has not stopped making investments in physical or promotional goods.
On November 17 he acquired the sports stadium Staples Los Angeles Center, to be renamed Crypto.com Arena. He bought the naming rights for 20 years, for the amount of USD $ 700 million. Also, earlier, in March, he reported on his incorporation as a main member of the VISA network.
In addition, he is going head-to-head with sports: he became a member of the Saint Germain football club in Paris and as recently as this Monday he reported that he will be an official sponsor of the cup. Conmebol Libertadores, from Southamerica.
Buy two exchanges
Now, adding more victories, he reported that he will acquire two US exchanges for derivatives and futures offers
Crypto.com announced that you are buying the North American Derivatives Exchange (Nadex) regulated by the USA and Small exchange for 216 million US dollars. The deal is expected to close in the first half of 2022, following regulatory approval.
Both based in Chicago, Nadex (part of IG Group) offers derivative products to retail investors, while Small exchange is known for its futures offerings, which allows Crypto.com provide traditional instruments to their US customers.
The co-founder and CEO of Crypto.com, Kris Marszalek said the goal is to offer clients a reliable, secure and regulated platform to achieve financial independence.
Regulated by the Commodity Futures Trading Commission, Nadex offers binary options, call spreads and contracts Touch Bracket (“knock-out”), According to the announcement. For its part, Small exchange offers futures products that are smaller, more capital efficient in an attempt to appeal to beginners.
According to the announcement, Travis McGhee and Donald Roberts will continue in their roles as CEOs of Nadex and Small Exchange, respectively.
Crypto.com currency rises
Of course, the news had an impact on the price of the native cryptocurrency Crypto.com (CRO), which increased 5.5% compared to yesterday. The biggest increase was registered today, after the news broke. As can be seen in CryptoMarkets, who bought the coin a month ago have profits today over 272%.
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