Crypto.com to acquire Nadex exchange to expand US presence

Crypto.com will use the acquisition as a gateway to trade certain derivatives and futures products for U.S. based customers.

Crypto.com to acquire Nadex exchange to expand US presence

Cryptocurrency exchange Crypto.com agreed to buy North American Derivatives Exchange (Nadex) and Small Exchange Inc. to expand its presence in the US.

Both exchanges are part of the North American branch of London-based IG Group, the FTSE 250-listed online-trading firm with a market cap of around $4.3 billion. IG owns 39% of small Exchange, and receives a total of $216 million from the transaction, IG announced Wednesday.

Small Exchange has also previously received backing from interactive Brokers Group, PhillipCapital, Jump Capital, Citadel and Peak6 investments, according to Crunchbase. investor Tastytrade was bought by IG in January.

The arrangement is expected to close in the first half of 2022 subject to regulatory approval.

Crypto.com will use the acquisition as a gateway to trade certain derivatives and futures products for U.S. based customers.

Nadex is a U.S-based online exchange and clearing house offering retail-focused derivatives products on some of the major global markets, while Small Exchange provides small, simplified futures products also for retail investors.

Read: India to introduce new Crypto Bill in Parliament after Cabinet approval

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