Crypto.com to acquire two U.S. derivative exchanges for $216 million

The cryptocurrency platform Crypto.com has agreed to acquire two U.S. derivatives exchanges from the financial company IG Group Holdings.

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According to IG Group’s statement, the crypto company will pay $216 million for its stakes in Nadex (North American Derivatives Exchange) and Small Exchange.

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Nadex is a registered and regulated CFTC online exchange offering derivatives on some of the world’s most actively traded markets. Small Exchange is a futures exchange focusing on smaller and simpler products, also aimed at retail customers.

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“The acquisition will provide our users with access to a completely new set of financial instruments in addition to our current offering,” said Crypto.com co-founder and CEO Kris Marsalek.

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IG Group CEO June Felix described the deal as \”mutually beneficial.\” She said both exchanges are \”strong innovative ventures,\” with potential that Crypto.com has assessed.

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The deal is expected to close in the first half of 2022, subject to regulatory approvals. Both companies will be brought under the Crypto.com brand.

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As a reminder, earlier the crypto platform paid $700 million for the naming rights to the NBA arena of the Los Angeles Clippers and Los Angeles Lakers.

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