IG Group Makes History as First UK-Listed Firm to Secure FCA Crypto License
The London-listed investing and trading platform announced that its subsidiary, IG Digital Assets Limited, has been granted authorization to operate as a registered cryptoasset firm, enabling the company to significantly expand its cryptocurrency offerings beyond its current partnership-based model.
A Historic Regulatory Milestone
IG Group's addition to the FCA's cryptoasset register represents a watershed moment for the UK's crypto industry, demonstrating that established, publicly listed financial services companies can successfully navigate the regulator's stringent approval process. The achievement comes as the FCA reportedly works to accelerate its cryptoasset firm registration procedures, aligning with broader regulatory developments across Europe and the United States.
The significance of this approval extends beyond IG Group itself. As an FTSE 250 company with over five decades of experience in financial markets, IG's successful licensing signals growing mainstream acceptance of cryptocurrency services within the UK's traditional financial sector. The company's ability to meet the FCA's rigorous standards for consumer protection, anti-money laundering compliance, and operational resilience sets a precedent for other established financial institutions considering entry into the digital asset space.
From Partnership to Direct Offering
IG Group first ventured into cryptocurrency trading in June 2025 through a strategic partnership with Uphold Europe, an FCA-registered crypto exchange and trading platform. This arrangement allowed IG customers to buy, sell, and hold digital assets, including Bitcoin, Ethereum, and Solana, directly through the IG mobile application and web platform, with 24/7 access to more than 35 different cryptocurrencies.
However, the partnership model came with inherent limitations. Customers could not transfer crypto assets into or out of the platform, and the range of available services was constrained by the third-party arrangement. With the newly secured FCA license, these restrictions will soon be lifted.
Expanded Capabilities and Customer Benefits
The direct licensing enables IG Group to offer several enhanced features that were previously unavailable under the partnership structure. Most notably, customers will gain the ability to transfer cryptocurrency assets in and out of the IG platform, providing greater flexibility for those who wish to move their holdings between different wallets and exchanges.
Additionally, the license permits IG to expand the range of available cryptocurrencies and deliver more accurate pricing for clients. This improved pricing capability stems from the company's ability to access markets directly rather than relying on a third-party intermediary, potentially resulting in tighter spreads and better execution for customers.
Michael Healy, UK Managing Director at IG Group, emphasized the strategic importance of the licensing achievement. "This marks a significant step forward for IG as we continue to broaden our offering for UK investors," Healy stated. "The FCA licence not only enables us to provide a wider range of crypto services, but it also gives our customers greater flexibility and control. We're excited to bring more than five decades of market experience to help shape the future of the UK's rapidly growing crypto sector."
Healy also acknowledged the collaborative nature of the approval process, thanking the FCA for conducting an efficient registration procedure and expressing the company's commitment to working closely with the regulator as it continues building out its cryptocurrency offerings.
Seamless Transition for Existing Customers
IG Group has emphasized that existing cryptocurrency customers will not need to take any action in response to the licensing development. The company plans to automatically migrate current users from the Uphold-powered service to the new IG-operated platform in the coming weeks, ensuring continuity of service without requiring customer intervention.
This automatic migration approach demonstrates IG's focus on user experience, minimizing disruption as the company transitions from its partnership model to direct provision of cryptocurrency services.
A Comprehensive Multi-Asset Platform
With the addition of cryptocurrency trading capabilities, IG Group now positions itself as a comprehensive multi-asset platform, enabling customers to access stocks, indices, exchange-traded funds (ETFs), foreign exchange (forex), commodities, derivatives, and crypto assets through a single interface.
This consolidated approach addresses a common pain point for investors who previously needed to maintain accounts across multiple platforms to gain exposure to different asset classes. By offering traditional and digital assets side-by-side, IG provides convenience for investors seeking diversified portfolios without the complexity of managing relationships with numerous service providers.
IG Group joins a growing roster of platforms offering cryptocurrency access to UK customers, including Gemini, Bitstamp, eToro, and Revolut. However, IG's status as the first UK-listed company to secure FCA approval distinguishes it from competitors and may attract investors who prefer dealing with established, publicly accountable financial institutions.
The UK's Evolving Crypto Regulatory Framework
The FCA's cryptoasset register was established to bring greater consumer protection and regulatory oversight to the UK's digital asset sector. Firms must demonstrate robust systems and controls, adequate financial resources, and compliance with anti-money laundering regulations to secure registration.
The regulator has faced criticism in the past for what some industry participants perceived as a slow and overly cautious approach to crypto firm approvals. However, reports suggest the FCA is now working to accelerate its registration process, potentially signaling a more pragmatic approach that balances consumer protection with the need to support innovation and competitiveness in the UK financial sector.
This regulatory evolution occurs against a backdrop of international developments, with jurisdictions including the European Union implementing comprehensive crypto asset frameworks such as the Markets in Crypto-Assets (MiCA) regulation, while the United States continues to refine its approach through enforcement actions and legislative proposals.
Implications for the UK Crypto Sector
IG Group's successful licensing carries several important implications for the broader UK cryptocurrency ecosystem. First, it demonstrates that the FCA's approval process, while rigorous, is navigable for well-established financial services companies with appropriate resources and compliance capabilities.
Second, the involvement of a major publicly listed company may help legitimize cryptocurrency services in the eyes of more conservative investors who have been hesitant to engage with the asset class through smaller, less established platforms.
Third, IG's entry as a direct provider of crypto services may intensify competition in the UK market, potentially driving improvements in service quality, pricing, and innovation across the industry.
Looking Ahead
As IG Group prepares to launch its expanded cryptocurrency services in the coming weeks, the company's performance will be closely watched by both industry participants and regulators. The success or challenges encountered by IG in operating under direct FCA oversight may influence other traditional financial institutions considering similar moves into the digital asset space.
For UK investors, the development represents an expansion of choice in how they access cryptocurrency markets, with the added assurance that comes from dealing with an FCA-regulated, publicly accountable company with a long track record in financial services.
IG Group's historic licensing achievement marks not just a milestone for the company itself, but potentially a turning point for the UK's cryptocurrency sector as it continues its journey from a niche, alternative asset class toward mainstream integration within the broader financial system.
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