UK-listed trading and financial services firm IG Group has announced the expansion of its cryptocurrency services to include spot trading for retail investors, marking a significant step in its digital asset offerings.
Expanded Crypto Asset Selection
IG's new service allows clients to trade 31 different cryptocurrencies directly, including:
- Major coins: Bitcoin (BTC), Ethereum (ETH), Ripple (XRP)
- Altcoins and memecoins: Bonk (BONK) and others
- CFD options: Still available for 11 major cryptocurrencies
This move builds upon IG's existing cryptocurrency CFDs (Contracts for Difference), which the company has offered previously. Unlike CFDs where traders speculate on price movements without owning the underlying asset, spot trading involves direct buying and selling of crypto assets at current market prices.
👉 Discover how IG Group is transforming crypto access for retail traders
Partnership with Uphold Ensures Regulatory Compliance
The new offering was developed in partnership with U.S.-based crypto firm Uphold, which handles:
- All customer transactions
- Pricing data provision
- Fully integrated infrastructure within IG's platform
"Uphold's regulatory compliance in both the U.S. and UK makes them an ideal partner as we expand our crypto services," said Michael Healy, IG UK Managing Director.
The service is integrated across IG's platform and mobile app, allowing seamless switching between crypto trading and other investment accounts.
UK's Evolving Crypto Landscape
This expansion comes amid growing cryptocurrency adoption in the UK and regulatory developments:
- FCA consultations: New rules proposed for stablecoin issuers and crypto custodians (May 2024)
- Draft legislation: General crypto regulations published (April 2024)
- Adoption growth: UK seeing significant increase in crypto holders according to Gemini data
IG had previously suspended UK retail crypto products in 2021 following FCA restrictions on crypto derivatives, making this relaunch particularly noteworthy.
FAQ: Understanding IG's Crypto Services
Q: What's the difference between spot trading and CFDs?
A: Spot trading involves direct ownership of assets, while CFDs let you speculate on price movements without owning the underlying cryptocurrency.
Q: Is IG's crypto service available worldwide?
A: Currently focused on UK retail investors, though institutional services have global availability.
Q: How does Uphold's involvement benefit users?
A: Uphold provides regulatory compliance and secure transaction processing within IG's existing platform.
Q: What security measures are in place?
A: The partnership with regulated entity Uphold ensures compliance with UK and U.S. financial regulations.
👉 Learn more about secure crypto trading platforms
The Future of Crypto Trading at IG
This strategic expansion positions IG Group as a comprehensive crypto service provider:
- For retail investors: Direct spot trading access
- For professional traders: Continued CFD offerings
- Across platforms: Unified experience on desktop and mobile apps
As regulatory frameworks continue to develop in the UK, IG's established reputation in financial services combined with Uphold's crypto expertise creates a compelling offering for investors entering the digital asset space.