UK-Listed Company IG Group Offers Retail Crypto Trading to Investors

IG Group, a leading UK financial services firm, has launched a new feature that allows retail investors to trade cryptocurrencies directly. This makes IG the first publicly listed company in the United Kingdom to offer such access.

The move is part of a partnership with Uphold, a digital asset trading platform. It enables users to trade 38 cryptocurrencies, including popular ones such as Bitcoin and Ethereum, as well as trending memecoins. This development comes amid a growing interest in digital assets across the UK. The IG Group’s crypto adoption did not reflect on the market price of its common stock, GBX.

IG Group Embraces Crypto Trading

Previously, IG only offered crypto exposure through complex financial products known as CFDs (Contracts for Difference), which allow investors to bet on price movements without actually owning any crypto. Now, with this new offering, users can buy and sell cryptocurrencies at real-time market prices, similar to traditional spot trading.

The crypto service is fully built into IG Group’s existing platform and its IG Invest app. This allows users to easily transfer between crypto trading and other services, such as stock investing, all from the same account.

Uphold will manage the back-end work, including customer transactions and pricing. This is because its technology has been fully integrated into IG’s system, ensuring a smooth experience for users.

However, investors should still be cautious. Cryptocurrencies bought through IG’s new service are not protected by the UK’s Financial Services Compensation Scheme. That means that if something goes wrong with the platform, users may not receive a refund.

Still, IG’s move marks a significant step in making cryptocurrency trading more accessible, safer, and aligned with traditional financial systems.

The IG Group’s stock, GBX, failed to impress after the announcement. At the time of writing, it exchanged hands for $1,180, representing a mild 0.36% decrease in the past 24 hours.

UK’s Advancement of Crypto Assets

Several cryptocurrency firms have recently secured operational licenses from the UK government. For instance, the publicly traded crypto firm Coinbase received endorsement from the UK’s Financial Conduct Authority (FCA) earlier this year to operate in the country.

In other news, Kraken has obtained an Electronic Money Institution (EMI) license to offer cryptocurrencies to UK investors.