Crypto.com has started offering stock and exchange-traded fund (ETF) trading services for select users in the U.S., marking a significant expansion beyond its crypto offerings.
Crypto.com's New Feature
Users in Pennsylvania, Ohio, Washington, and Arizona can now buy, sell, and transfer stocks and ETFs via the Crypto.com app. The platform plans to roll out this service nationwide.
Promotion and Strategic Plans
As part of the promotion, users can receive a bonus of up to 3% for transferring securities into the app. This move aligns with Crypto.com's strategy to integrate traditional finance products with its crypto offerings. Later this year, the company plans to introduce stock options trading, along with foreign exchange, commodities, and index derivatives.
Recent Developments and Context
Crypto.com recently dropped a lawsuit against the U.S. SEC, challenging its authority over certain digital assets. This followed a meeting between Crypto.com CEO Kris Marszalek and President-elect Donald Trump, where they discussed crypto-friendly policies, including a proposed national Bitcoin reserve.
Crypto.com's expansion into traditional financial products demonstrates the platform's ambition to integrate various financial instruments for its users, making their portfolios more diverse and flexible.
