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Crypto.com will acquire two US-based exchanges from IG Group, in $216 million deal
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Prominent cryptocurrency exchange Crypto.com is acquiring two exchanges from financial services firm IG Group Holdings Plc. for $216 million. As per the statement from IG Group, the exchanges are North American Derivatives Exchange Inc. [Nadex] and Small Exchange Inc, in which Crypto.com will acquire a nearly 40% stake.
As per details of the deal, it is expected to close in the first half of 2022, subject to regulatory approval. The co-founder and chief executive officer of Crypto.com, Kris Marszalek noted in the company’s statement that the proposed acquisition “will give our customers access to an entirely new set of financial tools.”
As far as the soon-to-be-acquired exchanges are concerned, Small Exchange had previously received backing
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