Crypto.com has appointed former IG Group CEO Kevin Algeo as Senior Vice President (SVP) of Capital Markets. The announcement comes just one day after the cryptocurrency platform revealed its acquisition of a CySEC-regulated broker and expressed its intention to launch a CFD offering beyond its core products in the second half of the year.
FX and CFD Industry Veteran to Oversee Crypto.com Multi-Regional Growth
Algeo, who spent over a decade at publicly listed IG Group (LSE: IGG) where he served as CEO of APAC & Africa, brings 20 years of financial services leadership to the role. His appointment comes just one day after Crypto.com’s acquisition of Cyprus-based Allnew Investments Ltd, which provided the company with a Markets in Financial Instruments Directive (MiFID) license.
In his new position, Algeo will lead capital markets initiatives spanning the United Kingdom, Europe, Middle East, and Asia Pacific regions. He will focus on expanding Crypto.com’s product offerings beyond cryptocurrency, overseeing the rollout of cash equities, exchange-traded derivatives and CFDs.
“His extensive experience in financial services and regulated markets will be instrumental in our mission to build a full-service and fully regulated suite of financial products for users,” said Eric Anziani, President and Chief Operating Officer at Crypto.com.
LegacyFX and New License
The appointment builds on Crypto.com’s Wednesday announcement that it had acquired Cyprus-based A.N. Allnew Investments Ltd, the operator of LegacyFX. That deal, approved by the Cyprus Securities and Exchange Commission, secured Crypto.com a MiFID license enabling it to offer securities, derivatives, and CFDs to eligible users across the European Economic Area.
Algeo’s background at IG Group, a major global provider of CFDs and other derivatives products, aligns perfectly with Crypto.com’s reported plans to launch CFD offerings for forex and other markets in Q3 2025.
Algeo expressed enthusiasm about joining the cryptocurrency exchange, which claims over 140 million customers worldwide.
“I’ve long admired the strength of Crypto.com’s brand, their focus on clients and the ambition of their product roadmap,” Algeo said. “The company’s focus on innovation, compliance, and institutional-grade infrastructure makes it an industry leader.”
Acquisitions in the Crypto World
More and more crypto exchanges are expanding their services by buying companies that already hold regulatory licenses. This strategy helps them skip the often slow and complex process of applying for licenses themselves. Instead, they gain quicker access to regulated markets by taking over approved businesses.
Crypto.com is following in the footsteps of other major players like Kraken. Just a day earlier, Kraken announced the launch of regulated derivatives trading under MiFID II rules, made possible through its company Payward Europe Digital Solutions. This came shortly after Kraken took over the futures trading platform NinjaTrader.
Derivatives have become a key area of growth for crypto companies looking to move beyond basic spot trading. Coinbase also joined the trend by acquiring Deribit, a well-known derivatives exchange, as part of its push to strengthen its market position. CEO Brian Armstrong has indicated that more deals may follow.
Now that Crypto.com holds both MiFID and MiCA licenses, it can offer one of the broadest regulated product ranges available to European crypto investors.