Crypto.com Owner Signs Deal to Acquire North American Derivatives Exchange and Small Exchange
Posted on 12/02/2021
Founded in 2016, Crypto.com serves over 10 million customers with its crypto app, along with the Crypto.com Exchange and Crypto.com DeFi Wallet. Foris DAX Markets, Inc. is the parent company of Crypto.com. Crypto.com is a cryptocurrency platform and exchange headquartered in Singapore. Foris DAX Markets signed a deal to acquire North American Derivatives Exchange, Inc. (Nadex) and Small Exchange, Inc. from IG Group Holdings plc. The proposed sale is a cash transaction with an approximate, aggregate price for the IG shareholdings in both companies of US$ 216 million. Foris DAX Markets already owned 39% of the small exchange.
Nadex is a US derivatives exchange for binary options, call spreads, and knock-outs. It provides access to opportunities across global financial markets, including US and international indices, major forex pairs, commodities and economic events. Nadex is regulated by the Commodity Futures Trading Commission (CFTC). Small Exchange is a CFTC approved US futures exchange which was founded in January 2019 and opened for trading on June 1, 2020. Small Exchange offers small, standardized futures products on a range of underlying products to simplify access to the futures markets.
Marketing Blitz
The downtown Los Angeles home of the NBA’s Lakers and Clippers, the NHL’s Kings, and the WNBA’s Sparks will change its name after 22 years of operation from the Staples Center to the Crypto.com Arena. Crypto.com is paying US$ 700 million over 20 years to rename the 20,000-seat arena. It has been the Staples Center since it opened in October 1999.