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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.

By Jamie Crawley
AccessTimeIconDec 1, 2021 at 8:52 a.m. UTC
Updated May 11, 2023 at 4:01 p.m. UTC
Crypto.com CEO Kris Marszalek speaks at RISE 2018 at the Hong Kong Convention and Exhibition Centre.
Crypto.com CEO Kris Marszalek speaks at RISE 2018 at the Hong Kong Convention and Exhibition Centre.
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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.
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    UPDATE (Dec. 1, 9:13 UTC): Adds other Small Exchange investors in second bullet point.

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    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

    Jamie Crawley
    Jamie Crawley

    Jamie Crawley is a CoinDesk news reporter based in London.

    Follow @JamieCrawleyCD on Twitter

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