Crypto.com has announced an acquisition of the North American Derivatives Exchange and the Small Exchange for $216 million.
The exchange would acquire IG Group’s stake in the two exchanges in the deal, which is expected to be finalized in the first half of 2022 after regulatory approval.
The announcements reveal that Nadex CEO Travis McGhee and his Small Exchange counterpart Donald Roberts would remain in their roles.
Crypto.com CEO and co-founder Kris Marszalek says that the new entities would enable the exchange to provide a secure, trusted platform for financial independence.
Nadex is regulated in the US and offers binary options, call spreads, and Touch Bracket contracts. Small Exchange deals in futures that are smaller and capital efficient.
The acquisition follows a $700 million naming rights deal announced by Crypto.com to the Staples Center arena. The exchange also partnered with Silvergate Bank and Circle to support fiat deposits and withdrawals.
Source: Cointelegraph
