IG Group Expands into APAC Crypto Market with Acquisition of Independent Reserve
The online trading company IG Group, based in the UK, has acquired the Australian crypto exchange Independent Reserve in a deal worth $178 million (£117 million). This strategic move marks IG’s expansion into the APAC crypto market, strengthening its presence beyond the UK.
Independent Reserve is a prominent cryptocurrency exchange with a strong presence in Australia and Singapore. The platform offers trading with 34 digital assets, catering to both retail and institutional investors. In the 12 months leading up to June, the exchange generated revenue of $35.3 million, nearly doubling its revenue from the previous year.
Acquisition Details and Rationale
The acquisition agreement follows a thorough assessment of the crypto exchange industry by IG Group. According to Matt Macklin, Managing Director of IG, “This acquisition is an important step in IG’s crypto strategy in a key region.” Independent Reserve’s established regulatory foundations, proven technology, and strong leadership were key factors in IG’s decision to acquire the exchange.
IG will initially acquire 70% of Independent Reserve, with the option to purchase the remaining 30% based on performance in the 2027 and 2028 financial years. The completion of the deal is subject to official approvals from the Monetary Authority of Singapore (MAS) and the Foreign Investment Review Board (FIRB) in Australia, expected to be finalized in early 2026.
Implications and Future Prospects
The acquisition is expected to be accretive to cash profit per share in the first financial year after completion. This move also aligns with IG’s recent expansion into the UK crypto market, where it became the first company to offer British retail investors the ability to trade BTC, ETH, XRP, and 35 other tokens.
In addition to this acquisition, crypto companies in the UK are now required to collect and report detailed customer information on all trades and transactions to strengthen regulatory oversight in the digital asset space.
For more information on this acquisition and its implications for the crypto market, visit https://cryptonews.com/news/british-trading-firm-ig-group-acquires-aussie-crypto-exchange-for-117m-sets-apac-presence/
