IG Group Acquires 70% of Australian Crypto Exchange Independent Reserve for $117M

IG Group, a major UK online trading firm, has acquired a 70% stake in Australian cryptocurrency exchange Independent Reserve for A$178 million ($117.2 million). The deal, finalized last Friday, marks a strategic expansion into the Asia-Pacific region, one of the most active crypto markets globally.

Independent Reserve, operational in Australia and Singapore, offers over-the-counter trading for 34 digital assets. The exchange has seen revenue nearly double over the past year, reaching A$35.3 million. IG Group retains an option to purchase the remaining 30% stake in 2027 and 2028, contingent on performance milestones.

The acquisition strengthens IG's position in the APAC region while diversifying its cryptocurrency product offerings. Matt Macklin, Head of Asia Pacific at IG Group, highlighted the move as a key step in adapting to the evolving digital asset landscape.