IG Group Secures FCA License for Crypto, expanding its services and strengthening its leading position in the UK market.
IG Group Secures FCA License for Crypto, expanding its services and strengthening its leading position in the UK market.
IG Group has officially announced that it has secured a cryptoasset license from the Financial Conduct Authority (FCA), allowing the firm to expand its crypto offerings and strengthen its position in the growing digital asset market. This development makes IG the first UK-listed company to join the FCA’s cryptoasset register, marking a historic milestone for the country’s regulated crypto sector.
Earlier this year, IG introduced crypto trading in partnership with the FCA-registered firm Uphold while awaiting its own license approval. Now, with this new authorization, customers will soon gain the ability to transfer crypto assets in and out of the IG platform with ease. Moreover, they will have access to an expanded selection of cryptocurrencies and benefit from more precise pricing and enhanced trading features. Alongside this achievement, IG continues to advance its global crypto ambitions.
Recently, the firm made headlines by acquiring Australia-based crypto exchange Independent Reserve for A$178 million, showcasing its commitment to building a strong international footprint. Current IG crypto users will be seamlessly migrated to the main platform over the coming weeks without needing to take any action.
Commenting on the development, Michael Healy, UK Managing Director at IG, expressed his enthusiasm, saying, “This marks a significant step forward for IG as we continue to broaden our offering for UK investors. The FCA licence not only enables us to provide a wider range of crypto services, but it also gives our customers greater flexibility and control. We’re excited to bring more than five decades of market experience to help shape the future of the UK’s rapidly growing crypto sector.”
Healy further added, “We’d like to thank the FCA for conducting such an efficient registration process, which is a testament to the dedication and expertise of teams on both sides. We look forward to working closely with the FCA as we continue to build out our offering.” With this latest expansion, IG customers can now access multiple asset classes, ranging from stocks, ETFs, FX, and commodities to derivatives and cryptocurrencies, on a single platform, providing a streamlined and diversified trading experience.
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