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Sujha Sundararajan
Author
Sujha Sundararajan
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UK-based online trading firm IG Group has acquired Australian crypto exchange Independent Reserve in a deal worth A$178 million ($117 million) on Friday.
Per a Reuters report, the acquisition marks IG’s expansion into the APAC crypto market, enhancing its operations alongside the UK.
Independent Reserve, a prominent cryptocurrency exchange, has a strong presence in both Australia and Singapore. The platform already offers trading in 34 digital assets, serving retail and institutional investors.
Further, the exchange posted A$35.3 million revenue in the 12 months to June, nearly double the previous year.
The acquisition deal follows an extensive assessment of the crypto exchange industry, IG Group said in an official statement.
“This acquisition marks an important step in IG’s crypto strategy in a key region,” Matt Macklin, IG’s Managing Director, noted.
“Independent Reserve is one of Australia’s largest and fastest-growing digital asset exchanges with established regulatory foundations, proven technology and strong leadership. I am delighted that the Independent Reserve team will join IG as they embark on their next phase of growth.”
IG to Initially Acquire 70% of Independent Reserve
The company noted that it will initially acquire 70% of the Aussie-based company, with the option to buy the remaining 30% based on the performance in the financial year 2027 and 2028.
“Completion is subject to regulatory approvals from MAS in Singapore and FIRB in Australia and currently expected in early 2026,” the release read.
Further, the deal is expected to be accretive to cash earnings per share in the first full financial year post-closing.
In June, IG Group became the first UK-listed company to let UK retail investors trade BTC, ETH, XRP, and 35 other tokens. Under the new offering, the company’s retail clients will be able to trade 38 cryptocurrencies via a partnership with crypto platform, Uphold.
Besides, effective 2026, the UK will require crypto firms to collect and report detailed customer information on every trade and transfer, as part of a sweeping effort to strengthen oversight in the digital asset sector.
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