Crypto.com Agrees to Acquire Nadex and the Small Exchange from IG Group
The proposed acquisition opens the potential for broader derivatives and futures trading for Crypto.com’s U.S. customers.
Crypto.com, the world’s fastest-growing cryptocurrency, and financial services platform have announced that it has executed a sale and purchase agreement to acquire the North American Derivatives Exchange (Nadex) — a leading U.S.-based retail-focused, regulated online exchange and clearinghouse offering derivative products on some of the world’s most heavily traded markets — and the Small Exchange — a revolutionary futures exchange offering smaller, simpler products also aimed toward retail customers.
The proposed acquisition of Nadex and the Small Exchange will enable Crypto.com to provide its U.S.-based customers with the opportunity to trade certain derivatives and futures products.
“Our goal as a platform is to offer our customers a trusted, secure, and regulated platform with world-class tools to achieve financial independence,” said Kris Marszalek, Co-founder and CEO of Crypto.com. “This proposed acquisition builds on that promise and will give our customers access to an entirely new set of financial tools to complement our current offering.”
“This is a fantastic deal that is beneficial to all parties. Nadex and the Small Exchange are strong innovative businesses, and we are pleased that Crypto.com has recognized their potential. This will be an exciting time for clients and all those involved in the businesses”, said June Felix, Global CEO, IG Group.
Crypto.com expects to complete the acquisition of Nadex and the Small Exchange in the first half of 2022, pending regulatory review. Both companies will fold under the Crypto.com brand.
About Crypto.com
Founded in 2016, Crypto.com today serves over 10 million customers with the world’s fastest-growing cryptocurrency and financial services platform.
Crypto.com has focused on building a regulated business in every market where the company operates.
Crypto.com is a global company with over 3,000 people in offices across the Americas, Europe and Asia. Crypto.com is accelerating the world’s transition to cryptocurrency.
About Nadex
Nadex, your home base for short-term options trading. The North American Derivatives Exchange® (Nadex®) is the premier US exchange for binary options, call spreads, and Touch Bracket™ (“knock-out”) contracts, offering secure and innovative ways to participate in the markets. They are subject to regulation by the Commodity Futures Trading Commission (CFTC), and member funds are held in segregated accounts in major US banks.
About Small Exchange
Based in Chicago, the Small Exchange – backed by award-winning industry innovators and powered by a proprietary trade matching engine – is a registered Designated Contract Market (DCM) with the Commodity Futures Trading Commission (CFTC). The Small Exchange’s mission is to become the world’s largest customer-centric futures exchange, bringing products that bridge the product gap for investors of all sizes by providing futures products that are smaller, more capital efficient, simple to use, and easy to understand for all participants. The company facilitates the trading of exchange-created proprietary products for all types of market participants including, but not limited to market-makers/liquidity providers, Introducing Brokers (IBs), Futures Commission Merchants (FCMs), proprietary trading firms and hedge funds, all with a primary focus on the public retail customer.
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