IG Becomes First UK-Listed Firm to Gain FCA Cryptoasset Licence
IG, a leading UK-based online trading and investment platform, has been granted a cryptoasset licence by the UK's Financial Conduct Authority (FCA). This marks a significant step for the company, making it the first UK-listed business to join the FCA's cryptoasset register.
IG launched crypto trading in June, partnering with FCA-registered firm Uphold. Now, with its own FCA licence, IG customers will soon be able to transfer crypto assets in and out of the IG platform, providing greater flexibility and control, as per Michael Healy, UK Managing Director at IG.
The new licence also enables IG to expand its crypto offering in the UK. While the next crypto asset to be offered has not been explicitly named, IG has announced plans to introduce a wider range of crypto assets. Current IG crypto customers will be migrated onto the IG platform in the coming weeks.
IG's crypto licence allows the firm to offer additional features, enhancing its position as a one-stop shop for trading stocks, indices, ETFs, FX, commodities, derivatives, and crypto assets.
IG's crypto licence from the FCA signals a significant step forward for the company. It opens up new opportunities for customers, providing greater flexibility and control in their crypto trading. With plans to expand its crypto offering and migrate existing crypto customers, IG continues to strengthen its position in the UK's online trading landscape.
