Crypto exchange Crypto.com announced its acquisition of AN Allnew Investments, which will facilitate its licensing to offer derivatives throughout the European Economic Area (EEA).

The license, issued under the Markets in Financial Instruments Directive (MiFID), allows Crypto.com to provide various financial products across the 27 EU nations as well as Iceland, Liechtenstein, and Norway. This move follows their earlier success in obtaining a Markets in Crypto Assets (MiCA) license in January, further boosting their operational footprint in Europe.

As major players in the industry, many exchanges are venturing into derivatives to explore new profit avenues. Competitors such as Gemini and Kraken have also secured similar MiFID licenses, reflecting a broader trend in the market. Recently, Coinbase made headlines by acquiring options platform Deribit for $2.9 billion to enhance its stance in the U.S. derivatives sector.