FTSE 250-listed trading giant IG Group is expanding its digital asset footprint with the acquisition of Australian cryptocurrency exchange Independent Reserve, in a deal worth up to $117 million.
The agreement, announced Friday, marks IG’s latest move to strengthen its crypto offerings outside the UK and U.S., as the company looks to build a broader presence in regulated markets across Asia-Pacific and beyond.
Details of the acquisition
IG Group will initially purchase a 70% stake in Independent Reserve for around $72 million. That figure could rise to $82 million if the exchange meets performance targets in the 2026 financial year. The London-headquartered firm also holds an option to acquire the remaining 30% based on results through 2027 and 2028, potentially bringing the total enterprise value to $117.1 million.
“This acquisition marks an important step in IG’s crypto strategy in a key region,” said Matt Macklin, IG’s Managing Director for Asia Pacific and the Middle East. “Independent Reserve is one of Australia’s largest and fastest-growing digital asset exchanges with established regulatory foundations, proven technology, and strong leadership.”
Why Independent Reserve?
Founded in 2013, Independent Reserve is among Australia’s most established cryptocurrency exchanges. The company has nearly doubled its revenues over the past year to $23.9 million, with 76% of its business coming from Australia and 24% from Singapore. It serves around 11,600 active customers each month—up 60% year-over-year—and supports trading in 34 cryptocurrencies across multiple fiat pairs.
Independent Reserve CEO and co-founder Adrian Przelozny welcomed the acquisition, saying the deal would accelerate growth and global expansion.
“IG’s vision aligns with our mission to provide secure, regulated crypto trading,” he said. “This transaction will enable us to expand our product and market reach.”
The exchange’s management and staff will remain in place, and both the brand and platform are expected to continue operating independently in Australia and Singapore following regulatory approval.
Regulatory and regional significance
The deal is subject to clearance from Singapore’s Monetary Authority (MAS) and Australia’s Foreign Investment Review Board (FIRB), with completion expected in early 2026. Once finalized, the acquisition will give IG regulated access to both markets, creating a launchpad for further expansion across Asia-Pacific and the Middle East.
Complementing IG’s UK and U.S. crypto rollouts
IG’s acquisition comes on the heels of recent crypto expansions in the UK and U.S.
In May, IG became the first UK-listed firm to roll out retail crypto trading, offering 35 digital assets through a partnership with Uphold. The service is fully integrated into the IG platform and IG Invest app.
In the U.S., its brokerage arm Tastytrade added support for 23 cryptocurrencies and enabled clients to fund trading accounts with stablecoins through on-chain infrastructure provider Zero Hash.
