Global investment and trading platform IG has become the first UK-listed company to roll out crypto trading to retail users in the UK.
IG customers can now access a wide range of crypto assets, from the most traded coins such as bitcoin and Ethereum to a range of smaller assets. IG will charge a 1.49% fee on each transaction.
The offer - launched in partnership with crypto asset firm Uphold - is fully integrated across the IG platform and the IG Invest app, launched earlier this year. Uphold will execute all customer transactions and provide pricing data.
Michael Healy, UK managing director of IG, says: “This is a huge moment for IG and a major milestone in the UK's crypto journey, with retail investors now able to buy, sell and hold crypto assets with a grown-up business."
IG's move reflects growing confidence in the sector as the UK inroduces legislation aimed at making the country a leading crypto hub.
Reflecting on the IG announcement, Zumo’s founder and CEO Nick Jones, comments: “We’re seeing a significant uptick in interest from TradFi giants keen to launch a retail crypto offering, with appetites increasing in the wake of HM Treasury and the Financial Conduct Authority (FCA) making the UK’s direction of regulatory travel clearer.”