Crypto.com Accepts To Acquire Nadex and the Small Exchange From IG Group
- Crypto.com agrees to acquire Nadex and the Small Exchange from IG Group.
- Crypto.com’s U.S. customers now have access to derivatives and futures trading through the proposed acquisition.
- Crypto.com expects to complete both acquisitions in the first half of 2022.
Crypto.com continues on its expedient quest of reforming the cryptocurrency in a way that will be felt even by the next generation of users. The world’s fastest-growing cryptocurrency and financial services platform announced it has just executed a sale and purchase agreement to acquire a North American Derivatives Exchange, Nadex from the IG Group.
More than that, Crypto.com also agreed to secure the Small Exchange — a revolutionary futures exchange offering smaller, simpler products aimed towards retail customers. Whilst, Nadex is a leading U.S.-based retail-focused, regulated online exchange and clearinghouse offering derivative products on some of the world’s most heavily traded markets.
Crypto.com will be able to offer its U.S.-based customers the ability to trade certain derivatives and futures products as a result of the proposed acquisition of Nadex and the Small Exchange. What’s more, depending on regulatory approval, Crypto.com plans to complete the acquisition of Nadex and the Small Exchange in the first half of 2022.
Kris Marszalek, co-founder, and CEO of Crypto.com reveal what they intend to achieve with the acquisition. He says,
Our goal as a platform is to offer our customers a trusted, secure, and regulated platform with world-class tools to achieve financial independence. This proposed acquisition builds on that promise and will give our customers access to an entirely new set of financial tools to complement our current offering.
Nadex is a subsidiary of IG Group (LON: IGG), an FTSE 250 global financial services company with a market capitalization of $4.3 billion USD. Nadex, based in Chicago, Illinois, is the leading U.S. exchange for binary options, call spreads, and Touch BracketTM (“knock-out”) contracts, providing traders with safe and creative methods to trade. Moreover, Nadex is registered with, and answerable to regulation by the Commodity Futures Trading Commission (CFTC).
On the other hand, the Small Exchange is a futures exchange focused on retail traders, offering futures products that are smaller, more capital efficient, easy to use, and understand. Market-makers/liquidity providers, Introducing Brokers (IBs), Futures Commission Merchants (FCMs), proprietary trading businesses, and hedge funds are among the market participants who benefit from the Chicago-based firm’s trading of exchange-created custom products.
Following the closure, Travis McGhee and Donald Roberts will remain as CEOs of Nadex and the Small Exchange, respectively.
Global CEO, IG Group, June Felix expresses his excitement with the acquisition he says he believes this is a fantastic deal that is beneficial to all parties. He continues that Nadex and the Small Exchange are strong innovative businesses, and they are pleased that Crypto.com has recognized their potential. He adds that this will be an exciting time for clients and all those involved in the businesses.
Read more: https://coinquora.com/crypto-com-accepts-to-acquire-nadex-and-the-small-exchange-from-ig-group/
Text source: News – CoinQuora – Latest Cryptocurrency and Block
