The IG Group, a company listed in the Trading and Financial Services of the United Kingdom, is launching a cryptocurrency trade with retail investors, expanding its footprint in the digital assets space.
IG customers can now access 31 crypto assets, including Bitcoin (Btc), Ether (Eth), XRP (XRP) and different Altcoins and memecoins like bonk (Bonk), The company said in an announcement distributed with Cointelegraph on June 2.
IG has previously offered a cryptocurrency exposure through contracts for difference, but it marks a direct entry into the crypto trading spot
IG’s crypto trading services will come as crypto adoption continues to grow in the UK in the middle of pushing the government for a Crypto regulation regime.
Infrastructure and compliance provided by uphold
IG’s latest offer of crypto was launched in collaboration with Promoted by the Crypto Asset Firm based in the United StatesWhich is controlled in the US and the UK.
The offer is integrated throughout the IG platform and the IG Invest app, which allows customers to move from crypto accounts to any other IG account, including stock trading.
The Uphold will handle all customer transactions and provide pricing data, with its infrastructure that is fully integrated with the IG user experience, companies said in a joint announcement.
“It’s a big moment for IG and a major milestone in the UK crypto, along with investors who can buy, sell and hold crypto assets with an aged business,” said UK management director Michael Healy.
Ig’s earlier crypto motions
IG’s new offer brings trade in the crypto spot to the investors after the firm introduced the Crypto CFD to institutional clients.
Unlike place trading, which involves buying and selling crypto assets in their current market prices, CFDs are financial instruments that allow entrepreneurs to think of prices without the owner of the underlying owner.
According to the IG website, the company Provides -Daan Its clients to exchange CFDs with 11 major cryptocurrencies, including Bitcoin, Ether, Litecoin, Cardano and more.
In early 2021, IG stop This Crypto retail offers in the UK following a temporary ban on crypto derivatives trading of UK FINANCIAL CONDUCT AUTHORITY.
The UK’s development in crypto regulations
IG’s latest move to Crypto marks a major milestone of UK adoption amid regulators working on the introduction of industry standards and regulations.
On May 28th, the UK FCA Launched a public consultation In the suggested new policies for StableCoin providers and custody care providers.
In April, the UK government Published general draft regulations for cryptocurrencies Like Bitcoin, which aims to protect crypto asset investors from risky investments and scams.
The news came as the crypto adoption emerged in the UK, with the country seeing a Massive increase in new -owned crypto Last year, the passing of Europe, according to Gemini.
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