UK-listed IG Group launches crypto trading to retail investors

IG Group, a United Kingdom-listed trading and fiscal services company, is launching cryptocurrency trading to retail investors, expanding its footprint successful the integer assets space.

IG customers tin present entree 31 crypto assets, including Bitcoin (BTC), Ether (ETH), XRP (XRP) and a assortment of altcoins and memecoins specified arsenic Bonk (BONK), the institution said successful an announcement shared with Cointelegraph connected June 2.

IG antecedently offered cryptocurrency vulnerability done contracts for quality (CFDs), but this marks a nonstop introduction into spot crypto trading

IG’s crypto trading services travel arsenic crypto adoption continues to turn successful the UK amid the government’s propulsion for a crypto regulatory regime.

Infrastructure and compliance provided by Uphold

IG’s latest crypto offering is launched successful concern with the United States-based crypto plus steadfast Uphold, which is regulated successful the US and the UK.

The offering is integrated crossed the IG level and the IG Invest app, allowing customers to power from crypto accounts to immoderate different IG accounts, including banal trading.

Uphold volition grip each lawsuit transactions and supply pricing data, with its infrastructure afloat integrated into IG’s idiosyncratic experience, the companies said successful a associated announcement.

“This is simply a immense infinitesimal for IG and a large milestone successful the UK's crypto journey, with retail investors present capable to buy, merchantability and clasp crypto assets with a grown-up business,” said IG’s UK managing director, Michael Healy.

IG’s erstwhile crypto moves

The caller offering by IG brings crypto spot trading to retail investors aft the steadfast antecedently introduced crypto CFD trading to organization clients.

Unlike spot trading, which involves buying and selling crypto assets astatine their existent marketplace prices, CFDs are fiscal instruments that let traders to speculate connected prices without owning the underlying asset.

A screenshot of IG offering CFDs by the clip of the spot trading launch. Source. IG Group

According to the IG website, the institution allows its clients to commercialized CFDs connected 11 large cryptocurrencies, including Bitcoin, Ether, Litecoin, Cardano and more.

Related: UK to necessitate crypto firms to study each lawsuit transaction

In aboriginal 2021, IG halted its retail crypto offering successful the UK pursuing a impermanent prohibition connected crypto derivatives trading by the UK Financial Conduct Authority.

UK progressing with crypto regulations

IG’s latest determination into crypto marks a large adoption milestone successful the UK amid regulators moving connected introducing manufacture standards and regulations.

On May 28, the UK FCA launched a nationalist consultation connected projected caller rules for stablecoin issuers and crypto custody providers.

In April, the UK authorities published wide draught regulations for cryptocurrencies similar Bitcoin, aiming to support crypto plus investors from risky investments and scams.

The quality comes arsenic crypto adoption is booming successful the UK, with the state seeing a massive summation successful caller crypto owners successful the past year, outpacing Europe, according to Gemini.

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