UK-Listed Investments Platform IG Offers Spot Crypto Trading to Retail Customers
Investment platform IG (IGG) said it has begun offering crypto trading to retail investors, becoming the first publicly-listed firm in the U.K. to do so.
This marks IG's first offering of crypto exposure through spot trading of bitcoin BTC, ether ETH and a range of smaller tokens.
The company's crypto service has previously been confined to derivatives products in the form contracts for difference (CFD).
IG has teamed up with U.S.-based crypto-focused fintech firm Uphold to build crypto trading into its existing platforms that customers currently use for dealing shares, FX, commodities and derivatives.
This may demonstrate the increasing integration between traditional finance (TradFi) and digital assets that investors and traders now expect to see.
The London-based firm's move also coincides with the ongoing development of the U.K.'s plans to establish a regulatory regime for the crypto industry. The government published two consultation papers in April on draft legislation for activities such as crypto trading and stablecoin issuance.
IG shares are around 0.25% higher on the day at the time of writing, compared to the FTSE 100 index which is unchanged.
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