IG Group has secured a cryptoasset licence from the Financial Conduct Authority (FCA), becoming the first UK-listed company to join the regulator’s cryptoasset register.
IG Secures FCA Cryptoasset Licence, Becoming First UK-Listed Firm on Register
The move marks a significant step in the development of the UK’s crypto market and paves the way for the trading platform to broaden its services.
IG launched crypto trading in June through a partnership with FCA-registered firm Uphold.
With its own licence now in place, the company said it will soon allow customers to transfer crypto assets in and out of its platform, expand the number of available tokens, and deliver more accurate pricing.
Existing crypto clients will be migrated to the IG platform in the coming weeks without needing to take any action.
The firm said the integration would give investors greater flexibility while maintaining the convenience of managing multiple asset classes, including stocks, indices, ETFs, FX, commodities and derivatives, in one place.
Michael Healy, UK managing director at IG, called the development “a significant step forward” for the firm.
He said: “The FCA licence not only enables us to provide a wider range of crypto services, but it also gives our customers greater flexibility and control. We’re excited to bring more than five decades of market experience to help shape the future of the UK’s rapidly growing crypto sector.”
Healy added that IG looked forward to working closely with the regulator as it continues to expand its offering.
