IG Group Sells Small Exchange for $100 Million in Crypto Push
By Elena Vardon
IG Group Holdings disposed of its Chicago-based futures exchange in a $100 million deal with crypto exchange Kraken parent Payward Inc as it bulks up on its cryptocurrency offerings.
The online trading company on Thursday said the price for Small Exchange--which it bought in 2023--includes $32.5 million in cash and $67.5 million in Payward stock. The sale will result in a 73.3 million pound ($98.2 million) post-tax gain for IG and increase its regulatory capital resources by 22.7 million pounds, it added.
The London-listed group said that the terms of the Small Exchange deal include a partnership with Kraken and the distribution of new crypto products.
IG, which has been developing its crypto strategy, last month announced the acquisition of Australia-based crypto exchange Independent Reserve and secured a cryptoasset license from the U.K.'s Financial Conduct Authority. The group also bought an around 8% stake in crypto infrastructure provider Zerohash via a funding round.
Write to Elena Vardon at elena.vardon@wsj.com
(END) Dow Jones Newswires
October 16, 2025 03:01 ET (07:01 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.The articles, information, and content displayed on this webpage may include materials prepared and provided by third parties. Such third-party content is offered for informational purposes only and is not endorsed, reviewed, or verified by Morningstar.
Morningstar makes no representations or warranties regarding the accuracy, completeness, timeliness, or reliability of any third-party content displayed on this site. The views and opinions expressed in third-party content are those of the respective authors and do not necessarily reflect the views of Morningstar, its affiliates, or employees.
Morningstar is not responsible for any errors, omissions, or delays in this content, nor for any actions taken in reliance thereon. Users are advised to exercise their own judgment and seek independent financial advice before making any decisions based on such content. The third-party providers of this content are not affiliated with Morningstar, and their inclusion on this site does not imply any form of partnership, agency, or endorsement.
Popular
4 Stocks to Buy Before They Rise Further
2 Undervalued Stocks to Buy Before They Rebound
The 10 Best Companies to Invest in Now
The 10 Best Dividend Stocks
United States