Share this article
Crypto.com to Acquire Nadex, Small Exchange From IG Group for $216M
The deal for the trading platforms will enable Crypto.com to offer certain derivatives and futures products to U.S.-based customers.
Updated May 11, 2023, 4:01 p.m. Published Dec 1, 2021, 8:52 a.m.
Make us preferred on Google
Crypto.com, a Singapore-based crypto exchange, said Wednesday that it has agreed to buy North American Derivatives Exchange (Nadex) and Small Exchange from London-based financial services firm IG Group for $216 million to expand its presence in the U.S.
- IG owns 39% of Small Exchange, which has previously received backing from Interactive Brokers Group, Phillip Capital, Jump Capital, Citadel and Peak6 Investments, according to Crunchbase.
- The deal is expected to close in the first half of 2022 subject to regulatory approval.
- Crypto.com will use the acquisition as a gateway to trade certain derivatives and futures products for U.S.-based customers.
- Nadex is a Chicago-based online exchange and clearing house offering retail-focused derivatives products on the some of the major global markets, while Small Exchange provides small, simplified futures products also for retail investors.
Read more: UK Broker IG Group Stops Retail Crypto Derivatives Trades After FCA Ban
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
UPDATE (Dec. 1, 9:13 UTC): Adds other Small Exchange investors in second bullet point.
Meer voor jou
Recapping day 1 of Consensus Hong Kong
Hong Kong is looking to build its digital assets economy, its leaders said on stage.
Wat u moet weten:
- Hong Kong officials used the opening day of Consensus Hong Kong to signal a push into digital assets, pledging stablecoin licenses as soon as next month and new rules for perpetual contracts.
- Speakers at the conference framed crypto as central to emerging trends such as an AI-driven “machine economy,” with Financial Secretary Paul Chan envisioning AI agents transacting onchain.
- Market voices including Anthony Scaramucci and Tom Lee urged investors to look past recent price declines, with Scaramucci reiterating a $150,000 bitcoin target tied to U.S. legislation and Lee calling current conditions a buying opportunity rather than a time to sell.
Top Stories
