$3.5B UK Firm Opens XRP Spot Trading In Retail Crypto Push

IG Group, a $3.5 billion UK based online trading provider is launching retail trading for XRP and 37 other cryptocurrencies. As one of the most widely recognised cryptocurrencies, XRP’s inclusion is expected to attract new users and provide existing traders with more opportunities for growth and risk management.

IG Group Becomes First London-Listed Broker to Offer Spot XRP Trading

In partnership with the US-based crypto asset firm Uphold, IG Group allows retail investors to trade 38 cryptocurrencies on its platform starting June 3, making it the first London-listed broker to offer spot crypto trading. Hailing this as a major milestone, IG UK managing director Michael Healy stated, “This is a huge moment for IG and a major milestone in the UK’s crypto journey, with retail investors now able to buy, sell and hold crypto assets with a grown-up business.” He added,

Crypto is no longer a fringe asset class. 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.

Via this partnership, IG Group’s platform will offer crypto trading with Uphold providing custody and execution services. However, assets with Uphold aren’t covered by the Financial Services Compensation Scheme, and users can only trade with fully paid positions, without leverage.

As pointed out by Healy, this strategic move addresses the growing demand for XRP and other cryptocurrencies. “Customer demand is reaching a tipping point,” cited Healy.

Ignoring this development, the XRP price is currently in the red zone. Although the XRP price hit a daily high of $2.186 earlier today, it soon plummeted, now reaching $2.15.

Read More: Uphold’s recent collaboration with Oracle Protocol and Flare Networks to launch a new XRP-focused product that will enable XRP holders to earn yield on their tokens using Flare’s FAssets system.

UK To Foster Crypto Growth

Notably, IG’s foray into crypto trading reflects the UK’s growing adoption of digital assets, coinciding with regulatory efforts to establish industry standards. Recent developments include the FCA’s consultation on stablecoin and custody rules. It also includes the government’s draft regulations aimed at protecting investors from risks and scams.

According to a recent report published by Gemini, the UK is rapidly emerging as the world’s leading digital asset holder. Data shows that as of April 2025, 24% of adults surveyed in the UK hold cryptocurrencies, significantly higher than 18% in 2024. The country is projected to surpass the US in cryptocurrency adoption by year-end, potentially becoming one of the top countries in digital asset ownership.

At the Bitcoin Conference, Reform leader Nigel Farage pledged to introduce a Crypto Assets and Digital Finance Bill if he becomes Prime Minister. He envisions a more crypto-friendly country. Fagel also intends to establish a strategic Bitcoin reserve, though the UK Treasury has confirmed no crypto reserves in the country. He noted,

We are going to launch in Britain a crypto revolution. We’re going to make London one of the major trading centers of the world. We’re deadly serious.

In response to Fagel’s critical statement, MicroStrategy’s Michael Saylor expressed optimism about the Bank of England’s potential crypto approach, as reported by CoinGape.

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Nynu V Jamal

Nynu V Jamal is a passionate crypto journalist with three years of experience in blockchain, web3, and fintech spheres. She has established herself as a knowledgeable and engaging voice in the cryptocurrency and blockchain space. Her experience as an Assistant Professor in English Language and Literature has further added to her quest for crafting informative, well-researched, and accessible content.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.