IG just flipped a futures platform for a cool £75m — and used the cash to turbocharge its crypto game. The UK investment broker sold Small Exchange to Kraken’s parent company for $100m, booking a tidy profit while securing a partnership that puts bitcoin and ethereum front and center for its customers. It’s a bold pivot: out with niche futures, in with mainstream digital assets. Here’s how IG is betting big on crypto in 2025.
The Deal Breakdown: Cash, Stock, and a Crypto Partnership
IG sold Small Exchange Inc. — a Chicago-based futures platform it bought just two years ago — to Payward Inc. (Kraken’s parent) for $100m. The structure? $32.5m in cash and $67.5m in Payward stock, delivering a £73.3m post-tax gain and boosting regulatory capital by £22.7m.
But the real win isn’t the sale price. It’s the partnership. IG now acts as the gateway for Kraken crypto products, giving its clients seamless access to bitcoin, ethereum, and more. It’s a smart play: offload a platform that wasn’t scaling, pocket the profits, and align with one of the world’s biggest crypto exchanges.
IG’s share price ticked up 0.56% on the news, sitting at 1,076p — up over 9% year-to-date.
Why IG Is Going All-In on Crypto
This isn’t IG’s first crypto rodeo. The Small Exchange sale is part of a broader strategy to transform into a multi-asset platform with serious crypto chops.
Recent moves include:
- Acquiring Independent Reserve, Australia’s top crypto exchange (deal closes early 2026)
- Securing a UK cryptoasset licence from the Financial Conduct Authority
- Taking an 8.1% stake in Zero Hash, a major infrastructure player for stablecoins and tokenised assets
Michael Healy, IG’s UK managing director, called the crypto push “a significant step forward” in tapping the UK’s booming digital asset market. Translation? IG sees where retail investors are heading — and it’s not just stocks and foreign exchange anymore.
What This Means for IG Customers
If you’re an IG client, expect more crypto options, faster. The Kraken partnership means streamlined access to popular digital currencies without jumping platforms. Think one-stop-shop: trade equities, foreign exchange, and crypto all in one place.
For IG, it’s about staying competitive. Retail investors want crypto exposure, and rivals like eToro and Coinbase have been eating that lunch for years. Now IG’s catching up — and doing it with regulatory approval and serious infrastructure backing.
The Bigger Picture: Brokers and the Crypto Arms Race
IG isn’t alone. Traditional brokers are scrambling to integrate crypto as demand explodes. Robinhood, Interactive Brokers, and others have already made moves. The difference? IG’s doing it methodically — licensing, partnerships, acquisitions — rather than bolting on half-baked features.
The Small Exchange sale shows IG is willing to cut loose underperforming assets to fund its crypto ambitions. It’s a disciplined approach: take profits, reinvest strategically, and build for the long game.
Key Takeaways
IG sold Small Exchange to Kraken for $100m, netting £75m and securing a crypto partnership. The broker is pivoting hard into digital assets with acquisitions, licensing, and strategic stakes. For investors and clients, it signals IG’s commitment to becoming a true multi-asset platform — one where crypto isn’t an afterthought, but a core offering.
Want to stay ahead of fintech and crypto moves? Bookmark this page and check back for updates on IG’s crypto rollout.
FAQ
Q1: Why did IG sell Small Exchange?
A: IG sold Small Exchange to Kraken’s parent company to unlock capital and pivot toward crypto. The deal delivered a £75m gain and set up a partnership for distributing Kraken’s crypto products to IG clients.
Q2: What does the Kraken partnership mean for IG customers?
A: IG customers will get easier access to crypto products like bitcoin and ethereum directly through the IG platform. It’s a one-stop-shop approach, blending traditional trading with digital assets.
Q3: Is IG regulated to offer crypto in the UK?
A: Yes. IG secured a cryptoasset licence from the Financial Conduct Authority (FCA), allowing it to legally offer crypto trading to UK clients.
Q4: What other crypto moves has IG made recently?
A: IG acquired Independent Reserve (Australia’s leading crypto exchange) and took an 8.1% stake in Zero Hash, a major crypto infrastructure firm. Both deals signal serious crypto ambitions.
Q5: How has IG’s stock performed since the announcement?
A: IG’s share price rose 0.56% to 1,076p on the news and is up 9.13% year-to-date, reflecting investor confidence in the crypto pivot.
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Effective Date: 15th July 2025
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