IG Group Launches Direct Crypto Trading for Retail Investors

IG Group, a prominent UK-listed trading and financial services company, has launched cryptocurrency trading for retail investors, marking a significant expansion into the digital assets space. This new service allows IG customers to access 31 crypto assets, including major cryptocurrencies like Bitcoin (BTC), Ether (ETH), and XRP, as well as a variety of altcoins and memecoins such as Bonk (BONK).

Previously, IG offered cryptocurrency exposure through contracts for difference (CFDs), which allowed traders to speculate on price movements without owning the underlying assets. The new offering, however, represents a direct entry into spot crypto trading, enabling customers to buy, sell, and hold crypto assets at their current market prices. This shift is part of IG's broader strategy to provide a comprehensive suite of trading solutions for both retail and institutional clients.

The launch of this service is a significant development for IG Group, as it positions the company as a leader in the retail cryptocurrency trading space. By offering direct cryptocurrency trading, IG Group aims to attract a broader range of clients who are interested in the growing digital asset market. This move is likely to be well-received by retail investors who are looking for more direct and transparent ways to trade cryptocurrencies.

IG’s crypto trading services are launched in partnership with Uphold, a US-based crypto asset firm regulated in both the US and the UK. Uphold will handle all customer transactions and provide pricing data, with its infrastructure fully integrated into IG’s user experience. This integration allows customers to switch seamlessly from crypto accounts to any other IG accounts, including stock trading, enhancing the overall user experience.

“This is a huge moment for IG and a major milestone in the UK's crypto journey, with retail investors now able to buy, sell and hold crypto assets with a grown-up business,” said Michael Healy, IG’s UK managing director. This move comes as crypto adoption continues to grow in the UK, with the government pushing for a regulatory regime to support the industry.

IG’s latest move into crypto marks a major adoption milestone in the UK, as regulators work on introducing industry standards and regulations. On May 28, the UK Financial Conduct Authority (FCA) launched a public consultation on proposed new rules for stablecoin issuers and crypto custody providers. In April, the UK government published general draft regulations for cryptocurrencies like Bitcoin, aiming to protect crypto asset investors from risky investments and scams.

The expansion of IG Group's cryptocurrency offerings is a strategic move that is likely to have a positive impact on the company's business. By providing direct access to the cryptocurrency market, IG Group is positioning itself as a leading provider of digital asset trading solutions. This move is expected to attract new clients and enhance the company's competitive position in the market. The launch of the service is also likely to drive growth in the company's revenue, as it enables IG Group to tap into the growing demand for cryptocurrency trading among retail investors.