Global investment and trading platform IG has made a significant leap by becoming the first UK-listed company to offer cryptocurrency trading to retail users within the UK.
IG customers can now trade a diverse range of crypto assets, including popular cryptocurrencies like Bitcoin and Ethereum, as well as a selection of smaller digital currencies. Each transaction will incur a fee of 1.49%.
This initiative, launched in collaboration with crypto asset firm Uphold, is seamlessly integrated into both the IG platform and the recently introduced IG Invest app. Uphold will handle all customer transactions and provide essential pricing data.
Michael Healy, the UK managing director of IG, stated: “This represents a pivotal moment for IG and a major step forward for cryptocurrency in the UK, enabling retail investors to buy, sell, and hold digital assets through a reputable platform.”
IG’s entry into the crypto space reflects an increasing confidence in the sector, especially as the UK takes steps to become a leading hub for cryptocurrency through new legislative measures.
Nick Jones, founder and CEO of Zumo, noted the rising interest from traditional financial institutions looking to launch retail crypto offerings, particularly in light of clearer regulatory guidance from HM Treasury and the Financial Conduct Authority (FCA).