Autor: dot-traders

• Crypto.com acquires Watchdog Capital to enter the U.S. equities market.
• The acquisition enables the trading of stocks and options alongside crypto services.
• CEO Kris Marszalek promises a full range of services by year-end for investors.

Crypto.com has announced the acquisition of Watchdog Capital, LLC, a US-based broker-dealer registered with the Securities and Exchange Commission (SEC).

This strategic acquisition will enable Crypto.com to offer equities and equity options to eligible traders in the United States, marking a pivotal expansion in its service offerings.

As a registered broker-dealer, Watchdog Capital operates under the regulatory oversight of the Financial Industry Regulatory Authority (FINRA) and the Securities Investor Protection Corporation (SIPC).

This integration allows Crypto.com to merge traditional asset trading—specifically stocks—with its existing cryptocurrency services, providing users with a comprehensive trading platform that addresses the growing demand for diversified financial products.

CEO Kris Marszalek highlighted the company’s commitment to creating a seamless trading experience for American investors. “By the end of this year, Crypto.com will offer a full range of services through its family of companies, including crypto derivatives and now stocks,” he stated.

This move is indicative of a broader trend in the financial industry, where companies are increasingly working to bridge the gap between traditional finance and decentralized finance.

The acquisition not only positions Crypto.com to serve a wider range of financial needs but also reflects a growing trend among cryptocurrency firms to integrate more conventional financial services.

As the landscape evolves, the platform aims to streamline trading for both crypto and traditional asset investors, offering a compliant and user-friendly pathway for US-based users seeking investment opportunities in both realms.

Crypto.com is expected to release additional details regarding trading access and eligibility requirements, further solidifying its role in the ever-evolving financial market.

The post Crypto.com expands into US equities market with acquisition of Watchdog Capital appeared first on CoinJournal.

• Injective has announced the launch of Agora’s AUSD stablecoin on the mainnet.
• AUSD reserves are backed by VanEck and custodied by State Street.
• AUSD Injective’s first native stablecoin and will be key to the blockchain network’s DeFi ecosystem.

Injective has launched AUSD, a fully collateralized US dollar backed stablecoin Agora, as its first native stablecoin.

The integration will enhance interoperability across Injective’s decentralised finance ecosystem, according to a press release on Oct. 31.

1/ Introducing the first native stablecoin on Injective: $AUSD

Backed by VanEck and custodied by State Street, @withAUSD bolsters liquidity between DeFi and TradFi markets while also providing a seamless on-ramp for Injective dApps globally. pic.twitter.com/cV480alIA7

— Injective 🥷 (@injective) October 31, 2024

Among benefits of native support will be seamless on and off ramping for Injective users, with AUSD removing the need for bridges. This means more people will easily be able to tap into the stablecoin for DeFi capabilities on Injective, including lending and staking.

VanEck manages the AUSD stablecoin’s reserves, while State Street is the custodian.

“The launch of AUSD on Injective underscores the dominance of USD-backed stablecoins—with 99.7% market share—as an institutional-grade asset for capital formation and movement,” Nick van Eck, chief executive officer and co-founder of Agora, said in a statement.

AUSD adds to Injective’s stablecoin ecosystem, which has processed over $40 billion in USD-denominated stablecoin volume. Currently, the stablecoin market stands at over $170 billion, with Tether (USDT) and Circle’s USDC (USDC) dominating.

USDT leads with about $120 billion of the market cap, while USDC is second with more than $35 billion. Agora’s AUSD market cap stands around $70 million, with other rivals including PayPal USD and Ripple’s RLUSD.

The post Injective launches Agora’s AUSD as its first native stablecoin appeared first on CoinJournal.