Leading UK online brokerage IG Group (LON:IGG) has announced that it has been granted a cryptoasset license by the Financial Conduct Authority (FCA), enabling the firm to significantly expand its crypto offering for customers.
IG becomes the first UK-listed business to join the FCA’s cryptoasset register, marking a milestone moment for the UK’s crypto sector.
IG launched crypto trading in June through a partnership with FCA-registered firm Uphold, while its own license application was under review. With its own FCA license, customers will soon be able to transfer crypto assets in and out of the IG platform and access additional features. The license also enables IG to expand the range of crypto assets available and deliver more accurate pricing for clients.
In addition to its home UK market, IG has been making strides expanding its crypto capabilities internationally, recently acquiring Australia based crypto exchange Independent Reserve, for A$178 million.
Current IG crypto customers do not need to take any action and will be migrated onto the IG platform in the coming weeks.
Michael Healy, UK Managing Director at IG, said,
“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.
“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.”
Following the addition of crypto this summer, IG customers can now trade stocks, indices, ETFs, FX, commodities, derivatives, and crypto assets in one place – offering convenience to those seeking exposure to a broad range of asset classes without the hassle of using multiple providers.
About IG Group
IG Group provides online trading platforms and educational resources to empower ambitious customers around the globe. Headquartered in the UK, IG Group is a FTSE 250 company that offers customers access to c.19,000 financial markets worldwide
