IG Group Expands Crypto Footprint with $117M Acquisition of Independent Reserve

IG Group has struck a deal to acquire 70% of Australian cryptocurrency exchange Independent Reserve for $72 million upfront, with performance-based earnouts potentially pushing the total enterprise value to $117.1 million. The acquisition marks a strategic pivot toward Asia-Pacific markets for the London-based trading giant.

Independent Reserve recorded $23.9 million in revenue last year amid 70% annual growth, deriving 76% of its business from 11,600 active Australian clients. The exchange holds regulatory approvals in both Australia and Singapore—key markets where IG aims to expand its digital asset offerings.

The transaction accelerates IG's crypto ambitions beyond its core UK and US markets. Independent Reserve brings established infrastructure and compliance credentials to compete in Asia's rapidly growing digital asset sector, where institutional and retail adoption continues gaining momentum.