UK Investment Firm Abrdn Acquires Online Crypto Broker Interactive Investor

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Abrdn plc, a Scotland-based planetary concern company, announced connected Tuesday that it has completed the acquisition of the online concern platform, Interactive Investor.

Abrdn, 1 of the largest plus absorption giants successful Europe, finalized its acquisition of Interactive Investor successful a woody worthy £1.49 billion.

The presumption of the woody dictated that the Scottish concern elephantine wholly bargain the UK’s second-largest concern platform, with astir £59 cardinal successful assets and implicit 400,000 customers.

According to the deal, Interactive Investor volition proceed operating arsenic an autarkic concern and autarkic brand.

Richard Wilson, the CEO of Interactive Brokers, volition proceed starring the online concern level and volition clasp an enforcement committee absorption squad with a recently appointed board.

Wilson talked astir the improvement and said: “Today we articulation a institution with a heavy fiscal services past and a shared imaginativeness for the future. The opportunities that travel with joining the Abrdn household are significant. We volition beryllium moving with Abrdn’s talented squad to harness their advice, wealthiness absorption and probe capabilities for the payment of our customers.”

Stephen Bird, Abrdn CEO, besides stated: “The acquisition of interactive capitalist is simply a transformative woody for Abrdn’s idiosyncratic vector and marks an important measurement guardant successful delivering our strategy for client-led growth.”

Interactive Investor is an online broker that enables customers to easy commercialized shares, communal funds, wealth marketplace funds, bonds, stocks, exchange-Traded Fund (ETFs), self-invested idiosyncratic pensions (SIPPs), idiosyncratic savings accounts (ISAs), and galore more.

Interactive Brokers besides let customers to commercialized 4 cryptocurrencies, including Bitcoin and Ethereum, for 1 of the lowest commissions successful the market. The level lets users commercialized Bitcoin and Ethereum futures alternatively than owning cryptocurrencies directly. It presently lone allows customers to commercialized crypto ETNs similar XBT Provider Bitcoin Tracker EUR ETN and XBT Provider Bitcoin Tracker One ETN.

Abrdn’s semipermanent extremity is to determination Interactive Brokers much afloat into its ain level to bring the online brokerage steadfast marque overseas.

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