Through this move, Crypto.com aims to further advance its strategy to provide traditional financial services products. As part of its expanded offering, the company is set to deliver eligible users securities, options, futures, and contracts for difference, among others. This is not the first acquisition of Crypto.com this year, with the company buying Fintek Security Pty Ltd., an Australian firm regulated by the Australian Securities and Investments Commission, in November 2024. Similarly to the acquisition of Orion, this initiative intended to support Crypto.com in offering a broader range of financial products to eligible customers, including deposit products, derivatives, securities, foreign exchange, and managed investment schemes.
Based in Abu Dhabi, Orion is a brokerage company licensed by ADGM to deliver investment and ancillary services related to several financial instruments. Representatives from Crypto.com commented on the news, mentioning that the company has a set-out plan for its product roadmap for 2025, intending to provide its users with a comprehensive platform that allows them to conduct a broad range of financial investment services. Additionally, Crypto.com aims to focus on scaling its presence in the UAE, a region having a solid regulatory framework for the digital assets industry. At the time of writing, further information on the launch of these services for eligible customers was set to be shared in the upcoming weeks.
Furthermore, just days before this announcement, Crypto.com secured a principal membership licence with Mastercard, allowing it to directly issue cards on the Mastercard network. The licence was set to assist Crypto.com in launching its prepaid card programme in Bahrain, utilising Mastercard’s infrastructure. In addition, the move equipped the company’s customers with access to Mastercard’s global payments network, accepted at approximately 150 million in-store and online locations. The two companies enabled users to fund their cards via the Crypto.com app by utilising e-money wallets or third-party-issued credit and debit cards.
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