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Business

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.

By Jamie Crawley
AccessTimeIconDec 1, 2021 at 8:52 a.m. UTC
Updated Dec 1, 2021 at 2:34 p.m. UTC
Crypto.com CEO Kris Marszalek (CoinDesk archives)

Crypto.com CEO Kris Marszalek speaks at RISE 2018 at the Hong Kong Convention and Exhibition Centre.

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Jamie Crawley is a CoinDesk news reporter based in London.

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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

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

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Jamie Crawley

Jamie Crawley is a CoinDesk news reporter based in London.

Learn more about Consensus 2023, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.

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Jamie Crawley is a CoinDesk news reporter based in London.

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