UK trading giant IG Group is set to acquire a 70% stake in Australian crypto exchange Independent Reserve in a A$178 million deal, pending regulatory approval in Australia and Singapore.
Summary
- IG Group initially acquires 70% of Independent Reserve for A$109.6 million, with an additional A$15 million contingent on future performance and an option to buy the remaining 30% by 2028.
- The acquisition allows IG Group to extend crypto offerings beyond the UK, providing a strong entry into the Asia-Pacific market and optionality for expansion in the Middle East.
IG Group to acquire majority stake in Independent Reserve
UK-based trading platform IG Group is acquiring a 70% stake in Independent Reserve, a leading crypto exchange based in Australia, in a deal worth A$109.6 million. IG may also pay an extra A$15 million depending on how Independent Reserve performs in the next financial year.
The company also said it may buy the remaining 30% stake later, depending on future performance between 2027 and 2028. The full deal values the company at A$178 million.
The deal is expected to close in early 2026, once it receives approval from regulators in both Australia (FIRB) and Singapore (MAS).
Independent Reserve generated A$35.3 million in revenue in the 12 months to June, which is almost double its earnings from the previous year. Beyond the exchange’s financial performance, IG Group also highlighted the its strong leadership, and established regulatory compliance.
In the UK, the Group launched spot crypto trading in May this year in partnership with Uphold, offering 35 cryptocurrencies fully integrated across both the IG platform and the IG Invest app. With the acquisition of Independent Reserve, IG can now extend its crypto offerings beyond the UK. “This acquisition gives us a strong entry point into the Asia-Pacific crypto market,” said Charlie Rozes, Acting CEO of IG Group. Furthermore, the deal provides optionality to expand the offering across Middle East region.
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