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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.
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
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UPDATE (Dec. 1, 9:13 UTC): Adds other Small Exchange investors in second bullet point.
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