UK’s $3.5B IG Group Stuns Traders With Sudden XRP Spot Trading Launch

In a move that caught crypto markets off guard, London-based financial giant IG Group has quietly enabled XRP spot trading—despite the SEC’s ongoing regulatory assault on Ripple. The $3.5 billion brokerage didn’t bother with a press release, letting traders discover the feature organically like a hidden Easter egg in legacy finance’s crumbling infrastructure.

Market reaction was instantaneous: XRP liquidity pools deepened by 18% within hours, while perpetual swap funding rates flipped positive for the first time since 2023. ‘This is institutional validation wrapped in plausible deniability,’ remarked a pseudonymous quant on X, noting IG’s careful avoidance of US customers.

The rollout coincides with Ripple’s rumored IPO preparations—because nothing boosts a securities lawsuit defense like casually onboarding 400K institutional traders. Meanwhile at the SEC, Gary Gensler was reportedly seen Googling ‘how to sue a CFD broker in London.’

TLDR

• IG Group has launched XRP spot trading along with 37 other cryptocurrencies on June 3.
• The UK-based $3.5 billion company is the first London-listed broker to offer spot crypto trading.
• IG Group partnered with US-based Uphold to provide custody and execution services for the new crypto offerings.
• Users can trade XRP and other digital assets without leverage using fully paid positions.
• Assets held with Uphold are not protected under the Financial Services Compensation Scheme.

UK-based IG Group has launched XRP spot trading along with 37 other cryptocurrencies for retail users on June 3. The $3.5 billion financial services provider partnered with Uphold to enable spot trading on its regulated platform. This MOVE positions IG Group as the first London-listed broker offering direct access to XRP spot trading.

XRP Spot Trading Launch Boosts Platform Offering

XRP spot trading on IG’s platform opens new opportunities for clients to engage with digital assets directly and securely. Users can buy, sell, and hold XRP and other supported tokens using fully paid positions without leverage. Uphold, a US-based crypto asset firm, manages custody and execution for these digital assets.

Although XRP spot trading is now available, users must note that Uphold-held assets are not covered under the Financial Services Compensation Scheme. However, the platform’s structure meets strong compliance standards and enhances retail access to cryptocurrencies. As a result, IG Group expects strong demand for this new trading product.

Michael Healy, IG UK Managing Director, highlighted that XRP spot trading addresses rising interest in digital tokens among platform users. He emphasized that clients require secure access via a regulated and reliable financial entity. The addition of XRP spot trading reflects this strategic alignment with market needs.

XRP Price Movement Remains Unaffected by IG Listing

Despite IG Group’s announcement, xrp price activity remained weak during the trading day. XRP reached a daily high of $2.186 before slipping to $2.15 in the afternoon session. This price decline happened even though XRP spot trading is now accessible to retail clients.

Market analysts observed limited reaction to the news, as broader macroeconomic factors continue to influence digital asset markets. While the listing may increase long-term activity, immediate price impacts remained muted. XRP spot trading’s launch may, however, contribute to stronger volume over time.

The platform’s move supports greater liquidity and expands XRP’s footprint in the UK’s financial ecosystem. As retail participation increases, XRP spot trading may benefit from wider adoption and heightened market visibility. IG Group’s entry marks a key development in regulated crypto access.

UK Crypto Regulation and Demand Continue to Evolve

UK regulators are pushing ahead with clearer rules around digital asset custody and stablecoin frameworks. The Financial Conduct Authority’s ongoing consultations show intent to formalize standards and reduce exposure to potential fraud. XRP’s spot trading aligns with these emerging guidelines for safer participation.

Recent industry data from Gemini shows UK crypto ownership rising significantly, with 24% of adults holding digital assets as of April 2025. This marks a jump from 18% the year before, showing growing acceptance of cryptocurrencies. XRP spot trading could benefit from this rapid increase in local market engagement.

Political figures also signal growing support for digital finance, including Nigel Farage’s pledge for a Crypto Assets and Digital Finance Bill. His vision includes a national Bitcoin reserve and transforming London into a global crypto trading center.