Crypto.com Offers Stock and ETF Trading in Select US States

In the latest development, Crypto.com has added stock and ETF trading options for some selected users in the United States. This marks a significant expansion beyond cryptocurrency. This new feature lets crypto exchange users buy, sell, and transfer stocks and Exchange Traded Funds (ETFs) via the Crypto.com App. 

Zero-commission Trades and Bonus Offering 

These services are now available to users in Pennsylvania, Ohio, Washington, and Arizona. 

Soon, the exchange plans to roll out these services nationwide. For now, the selected US users are entitled to zero-commission trades and a 3% bonus when they utilize the Crypto.com App for securities transfers. 

Noteworthy, the 3% bonus, which will only last for a while, is to promote the new service. After the promotional period, the bonus could be reduced or eliminated. Crypto.com users in the regions mentioned above can also gain access to fractional shares, further providing investors flexibility. 

The exchange is keen on integrating the Traditional Finance (TradFi) ecosystem and the crypto sector. 

Crypto.com introduced a few other services besides these new stock and ETF trading options in the last few months. Before the Christmas holiday, it introduced a pioneering sports prediction trading platform for US customers. Users are presented with simple yes/no decisions on sports events with potential $100 rewards per correct prediction.

This new product focuses on enabling users to predict the outcome of a sports event, including basketball and the Super Bowl. Recall that Crypto.com signed a multi-year partnership with the UEFA Champions League in August. 

Unlike the latest milestone available to only a few US states, the sports events trading is designed to be accessible to all states in America. Crypto.com’s launch of this service also redirected new utilities to Cronos (CRO), a Layer-1 project focused on democratizing smart contracts.

Crypto.com Withdraws Lawsuit Against SEC  

In October, Crypto.com filed a lawsuit against the U.S. Securities and Exchange Commission (SEC) over claims that some of its business dealings are investment contracts. In the exchange’s opinion, the SEC has adopted a regulation-by-enforcement campaign instead of providing clear regulatory guidelines.

Shortly after a meeting between Crypto.com CEO Kris Marszalek and President-elect Donald Trump, the company suddenly decided to drop the suit. The incoming dispensation in the US is planning to implement crypto-friendly policies, including a proposed national Bitcoin reserve.