Investment Platform IG Wins FCA Approval for Crypto License, Expands UK Offering

Core Insights - IG Group (IGG) has secured a crypto asset license from the U.K.'s Financial Conduct Authority (FCA), becoming the first London-listed firm on the regulator's crypto register [1] - The FCA approval allows IG to expand its crypto services, enabling customers to transfer digital assets directly, access new trading features, and benefit from a broader range of tokens with improved pricing [2] - The addition of crypto services positions IG as a comprehensive platform for retail traders, allowing diversification across various asset classes without the need for multiple accounts [3] Company Developments - The company initially launched crypto trading in June through a partnership with Uphold while awaiting FCA approval [1] - Existing crypto users will be migrated to IG's native platform in the coming weeks, enhancing user experience and service offerings [2] - Following the announcement, shares in IG Group rose by 1.23% to 10.74 pounds ($14) [4] Market Positioning - The FCA license enables IG to provide a wider range of crypto services, enhancing flexibility and control for customers [3] - IG's platform now includes a variety of markets such as stocks, indices, ETFs, forex, commodities, and derivatives, reinforcing its position as a one-stop shop for retail traders [3]