In a bold move to tap into the rising interest in digital assets, UK-based IG Group has launched spot trading for XRP and 37 other crypto on its platform.
The $3.5 billion trading firm has now become the first London-listed broker to offer direct retail access to a wide range of crypto tokens, including Bitcoin and Ethereum.
The launch, which is said to go live on June 3rd, is part of a strategic partnership with Uphold, a US-based crypto asset firm that will handle custody and trade execution.
According to IG Group, users will be able to buy, sell, and hold crypto using fully paid positions, meaning there will be no leverage involved. However, assets held with Uphold aren’t protected under the UK’s Financial Services Compensation Scheme. Calling it a “huge moment,” IG UK Managing Director Michael Healy said the launch aligns with growing customer demand.
“Crypto is no longer a fringe asset class,” Healy stated. “Our clients want secure, reliable access to digital tokens from a trusted provider and as a UK-listed, regulated company, we’re ideally placed to meet that need.”
Despite the major announcement, XRP’s price remained weak, having slipped from a daily high of $2.186 to $2.14, In the last 24h. Analysts pointed out that broader market forces seem to be limiting any immediate reaction, though many believe the listing could boost trading volume over time.
The launch comes as the UK tightens its crypto rules. The Financial Conduct Authority (FCA) is weighing stricter policies on stablecoins and asset storage, while the government drafts new regulations to keep retail investors safe
Crypto adoption is also rising fast in the UK. A recent Gemini report found 24% of UK adults now own digital assets, up from 18% last year.
Even politicians are jumping in. At the recent Bitcoin Conference, Nigel Farage promised a Crypto Assets and Digital Finance Bill if he becomes Prime Minister, including plans for a UK Bitcoin reserve and making London a top crypto hub.
With IG’s new offering, crypto in the UK just took another leap toward the mainstream, proving digital assets aren’t just a passing trend but a growing part of finance.
