Singapore-based crypto platform Crypto.com has announced plans to acquire North American derivatives exchanges Nadex and Small Exchange for $ 216 million.

Crypto.com Announces Plan to Acquire Nadex and Small Exchange for $ 216 million

Nadex is a US-based, retail-focused, regulated online clearing house and exchange that offers derivative products in various markets and on the Small Exchange futures exchange.

Crypto.com has agreed to sell the North American Derivatives Exchange Inc. (Nadex) and Small Exchange Inc. for $ 216 million, according to a statement from IG Group.

The plan is for the two acquisitions to close in the first half of 2022, subject to regulatory review. The acquisition is being carried out by Foris DAX Markets, a company that is part of the companies that make up Crypto.com. Both companies will be integrated under the Crypto.com brand.

In a statement, the platform said the two acquisitions will allow it to provide Crypto.com’s U.S. customers with the most opportunities to trade derivatives and futures products.

“Our goal as a platform is to provide our customers with a trustworthy, secure and regulated platform with first-class tools to achieve financial independence.” said Kris Marszalek, co-founder and CEO of Crypto.com.

“This planned takeover […] will give our clients access to a whole range of new financial instruments that complement our existing offerings, ”added the CEO.

Via Nadex and Small Exchange

Small Exchange is headquartered in Chicago and includes investment firms Citadel, Jump Capital, Interactive Brokers Group Inc. and Peak6 Investments among its investors who recently added crypto-related futures contracts to their product listing.

Nadex is an American derivatives exchange for products such as binary options and call spreads (an option arbitrage strategy) and is regulated by the US Commodity Futures Trading Commission (CFTC). Regulated by the US Commodity Futures Trading Commission (CFTC), Nadex is part of the North American unit of global financial services company IG Group with a market capitalization of approximately $ 4,500.3 billion.

“The proposed sale is a cash transaction, with the approximate total price of IG shares in both companies [USD] 216 million “, The IG Group announced in a statement.

This financial services company holds around 39% of the shares in Small Exchange.

Crypto.com was founded in 2016 and enables more than 10 million customers to buy and sell around 150 cryptocurrencies. The platform’s ongoing efforts to increase global awareness include the recently announced $ 100 million advertising campaign starring Oscar-winning actor Matt Damon.

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