IG Group, a UK-based online trading firm, has made a significant move in the cryptocurrency market by acquiring Australian crypto exchange Independent Reserve in a deal worth A$178 million ($117 million). This acquisition marks IG’s entry into the APAC crypto market, expanding its presence alongside its operations in the UK.
Independent Reserve is a well-known cryptocurrency exchange with a strong foothold in Australia and Singapore. The platform currently offers trading in 34 digital assets, catering to both retail and institutional investors. In the 12 months leading up to June, the exchange reported revenue of A$35.3 million, nearly doubling its previous year’s figures.
According to an official statement by IG Group, the decision to acquire Independent Reserve follows a thorough assessment of the crypto exchange industry. Matt Macklin, IG’s Managing Director, expressed his excitement about the acquisition, highlighting Independent Reserve’s regulatory compliance, technological prowess, and strong leadership.
Initially, IG Group will acquire 70% of Independent Reserve, with the option to purchase the remaining 30% based on the exchange’s performance in the financial years 2027 and 2028. The completion of the deal is subject to regulatory approvals from the Monetary Authority of Singapore (MAS) and the Foreign Investment Review Board (FIRB) in Australia, with an expected closure in early 2026.
The acquisition is projected to enhance IG Group’s cash earnings per share in the first full financial year post-closing. This strategic move comes on the heels of IG Group becoming the first UK-listed company to allow retail investors to trade a variety of cryptocurrencies, including BTC, ETH, and XRP, through a partnership with crypto platform Uphold.
Starting in 2026, the UK will implement stricter regulations requiring crypto firms to collect and report detailed customer information for every trade and transfer. This initiative aims to bolster oversight and compliance within the digital asset sector.
By acquiring Independent Reserve, IG Group is solidifying its position in the APAC region and strengthening its foothold in the ever-evolving cryptocurrency market. This acquisition underscores IG Group’s commitment to innovation and growth in the dynamic world of digital assets.
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