IG Group, a leading trading and financial services company in the United Kingdom, has officially launched cryptocurrency trading services for retail investors. This move allows IG customers to trade 31 different cryptocurrencies, including popular assets like Bitcoin, Ether, and XRP, alongside various altcoins and memecoins, according to an announcement made on June 2.
This new offering marks a significant expansion from IG's previous services, which mainly included crypto-based contracts for differences (CFDs). With cryptocurrency adoption on the rise in the UK, driven by a government effort to introduce a regulatory framework for the industry, this expansion aligns with the growing interest from retail investors in digital assets.
The services have been launched in partnership with Uphold, a US-based crypto asset firm that operates under regulations in both the United States and the United Kingdom. Importantly, Uphold will handle customer transactions and provide real-time pricing data, ensuring a smooth user experience on the IG platform and IG Invest app. As Michael Healy, IG’s UK managing director, noted, "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."
This expansion arrives as the UK Financial Conduct Authority is actively working on establishing new rules for stablecoin issuers and crypto custody providers. Recently, a public consultation was launched to gather input on these matters, further indicating the government's commitment to securing protections for crypto asset investors. As the UK sees a substantial increase in the number of new crypto owners over the past year, this trend is outpacing developments in other parts of Europe.
This new offering marks a significant expansion from IG's previous services, which mainly included crypto-based contracts for differences (CFDs). With cryptocurrency adoption on the rise in the UK, driven by a government effort to introduce a regulatory framework for the industry, this expansion aligns with the growing interest from retail investors in digital assets.
The services have been launched in partnership with Uphold, a US-based crypto asset firm that operates under regulations in both the United States and the United Kingdom. Importantly, Uphold will handle customer transactions and provide real-time pricing data, ensuring a smooth user experience on the IG platform and IG Invest app. As Michael Healy, IG’s UK managing director, noted, "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."
This expansion arrives as the UK Financial Conduct Authority is actively working on establishing new rules for stablecoin issuers and crypto custody providers. Recently, a public consultation was launched to gather input on these matters, further indicating the government's commitment to securing protections for crypto asset investors. As the UK sees a substantial increase in the number of new crypto owners over the past year, this trend is outpacing developments in other parts of Europe.
