Crypto.com to Acquire Nadex, Small Exchange From IG Group for $216M

Crypto.com, a Singapore-based crypto exchange, said Wednesday that it has agreed to buy North American Derivatives Exchange (Nadex) and Small Exchange from London-based financial services firm IG Group for $216 million to expand its presence in the U.S.

• IG owns 39% of Small Exchange, which has previously received backing from Interactive Brokers Group, Phillip Capital, Jump Capital, Citadel and Peak6 Investments, according to Crunchbase.
• The deal 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 Chicago-based online exchange and clearing house offering retail-focused derivatives products on the some of the major global markets, while Small Exchange provides small, simplified futures products also for retail investors.

Read more: UK Broker IG Group Stops Retail Crypto Derivatives Trades After FCA Ban

UPDATE (Dec. 1, 9:13 UTC): Adds other Small Exchange investors in second bullet point.