Crypto.com Buys IG’s Stake in Citadel, Peak6-Backed Exchange (1)

Crypto.com, which has been grabbing headlines lately with its naming-rights deals, is expanding its footprint in another way: Buying two exchanges from financial services firm IG Group Holdings Plc.

The cryptocurrency platform agreed to acquire the North American Derivatives Exchange Inc. (Nadex) and IG’s nearly 40% stake in the Small Exchange Inc. for $216 million in cash, according to a statement from IG Group. IG Group shares rose as much as 1.8% in London.

The Small Exchange, which is based in Chicago and counts Citadel Securities, Jump Capital, Interactive Brokers Group Inc. and Peak6 Investments among its investors, recently ...