Crypto.com, a Singapore based crypto exchange has announced the acquisition of two trading platforms for $216 million from IG group. The two trading platforms are North American Derivatives Exchange (Nadex) and Small Exchange.
The Small Exchange, which is based in Chicago recently added cryptocurrency-related futures to its product list. Nadex is regulated by the CFTC (Commodity Futures Trading Commission) and it is an American derivatives exchange for products including binary options and call spreads.
CEO of the IG group, June Felix said that the new deal will allow the IG group to further sharpen its focus on integrating and expanding the U.S. options and futures business through its tastytrade and tastyworks franchises, both in the United States and internationally.
“The proposed acquisition will give our customers access to an entirely new set of financial tools,” said Kris Marszalek, co-founder and CEO of Crypto.com, in the company’s statement.
The acquisition is in line with Crypto.com’s goal to become a one-stop shop for all things crypto – an exchange, payments processor, and digital wallet.