Global crypto exchange Crypto.com is looking to strengthen its foothold in the United States with the acquisition of IG Group's stakes in two exchange platforms.

Crypto.com announced that it is purchasing the U.S.-regulated North American Derivatives Exchange (Nadex) and the Small Exchange for a reported $216 million. The deal is expected to close in the first half of 2022, following regulatory approval.

Both based in Chicago, Nadex offers retail investors derivative products while the Small Exchange is known for its futures offerings, enabling Crypto.com to provide traditional instruments to its U.S. customers. Crypto.com co-founder and CEO Kris Marszalek said that the goal is to offer customers a trusted, secure and regulated platform to achieve financial independence.

Regulated by the Commodity Futures Trading Commission (CFTC), Nadex offers binary options, call spreads and Touch Bracket (“knock-out”) contracts, according to the announcement. The Small Exchange, on the other hand, provides futures products that are smaller, more capital efficient in a bid to attract first-timers.

According to the announcement, Travis McGhee and Donald Roberts will continue in their roles as CEOs of Nadex and the Small Exchange, respectively.

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The acquisition adds to Crypto.com’s spending spree to make a name in the U.S. The company recently made headlines with its $700 million deal with AEG to buy the naming rights of Staples Center, the home of the NBA’s Los Angeles Clippers and Los Angeles Lakers, for 20 years.

Crypto.com is also working on streamlining its fiat deposit and withdrawal processes. Following its integration with Circle API to enable U.S. dollar bank transfers to Circle-based USD Coin (USDC) wallets, the exchange has partnered with state-chartered Silvergate Bank to allow dollar deposits and withdrawals for its institutional clients.