IG Group has launched a spot trading service for Bitcoin, Ethereum, and XRP for retail investors, expanding its crypto asset footprint.
By Godfrey Benjamin
Editor Julia Sakovich
Updated
3 mins read
UK-listed IG Group has launched a new offering that allows customers to trade Bitcoin BTC $105 480 24h volatility: 0.2% Market cap: $2.10 T Vol. 24h: $24.02 B , Ethereum ETH $2 633 24h volatility: 1.5% Market cap: $317.64 B Vol. 24h: $14.11 B , XRP XRP $2.25 24h volatility: 2.5% Market cap: $132.06 B Vol. 24h: $2.06 B , and other digital currencies. This marks a notable expansion for the financial service provider, which had previously forayed into the cryptocurrency sector.
As reported by Finance Magnates, apart from expanding its footprint in the digital asset sector, IG Group is exploring this trading strategy to provide trending investment options to its retail investors. Henceforth, these entities can trade up to 31 crypto assets on the UK-listed platform. This includes Bitcoin, Ethereum, XRP, altcoins, and top meme coins such as Dogecoin DOGE $0.20 24h volatility: 0.4% Market cap: $29.31 B Vol. 24h: $821.87 M and BONK BONK $0.000017 24h volatility: 3.1% Market cap: $1.31 B Vol. 24h: $162.27 M .
In the past, the firm offered its investors exposure to crypto through Contracts for Difference (CFDs).
A CFD is typically a financial agreement between two parties, commonly referred to as the “buyer” and the “seller”. These financial instruments allow traders to speculate on prices without owning the underlying asset.
At the time, IG Group clients could trade CFDs on 11 major cryptocurrencies, like Bitcoin, Ethereum, Litecoin, Cardano, and more. However, the latest development is a more direct entry into spot crypto trading.
Generally, mainstream crypto adoption is gradually growing in the UK, and IG Group’s move to offer crypto trading services reflects this sentiment. Michael Healy, IG’s UK Managing Director, noted that this marks a huge moment for the company and a major milestone in the UK’s crypto journey.
The new offering, which brings spot trading to retail investors, is integrated across the IG platform and the IG Invest app. This will allow customers to switch from crypto accounts to any other IG account.
The latest development is in collaboration with Uphold, which is regulated in the US and the UK. Uphold’s responsibility is to provide pricing data and handle all crypto transactions made on the retail trading platform.
In addition, it will serve as custodian for the digital assets held by IG Group’s customers.
Beyond spot crypto trading, in a May 28 release, the Financial Conduct Authority (FCA), the United Kingdom’s financial regulator, asked the public for feedback on proposed regulations on cryptocurrency and stablecoins. It outlined new proposals that businesses must comply with before launching stablecoins or providing crypto custody services.
It also pointed to collaborating with the Bank of England to develop a clear and comprehensive regulatory framework for stablecoins.
This comes from FCA’s advocacy for stablecoins, citing their consistent and stable value. In this “latest milestone on the road to crypto regulation,” issuers must disclose to clients how the assets backing these stablecoins are managed.
The public has until July 31, 2025, to provide feedback.
Even with the growing interest in crypto adoption and regulation in the UK, the government is still not interested in a national Bitcoin reserve. The Economic Secretary to the UK Treasury, Emma Reynolds, recently stated that holding Bitcoin as state-owned reserves is not on the table.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Benjamin Godfrey is a blockchain enthusiast and journalist who relishes writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desire to educate people about cryptocurrencies inspires his contributions to renowned blockchain media and sites.
