IG Group Acquires 70% of Independent Reserve for $72.4 Million

IG Group acquired a 70% stake in Australian crypto exchange Independent Reserve for 109.6 million AUD ($72.4 million), with plans to buy the remaining 30% based on performance.
The acquisition aims to strengthen IG's presence in Asia-Pacific crypto markets, complementing recent expansions in the U.K. and U.S.
Independent Reserve, one of Australia's oldest regulated crypto platforms, supports trading in 34 cryptocurrencies across Australian and Singaporean markets.
The deal is subject to regulatory approval and expected to close in early 2026 for a total of 178 million AUD ($117.6 million).
Independent Reserve reported a revenue increase of 88% year-over-year, reaching $23.3 million for the fiscal year ending June 2025.
The platform saw a 60% rise in monthly active users, now at approximately 11,600, with $1.12 billion in assets under custody from 129,400 funded accounts.
IG Group expects the acquisition to be accretive to earnings starting in fiscal year 2027. Its shares dropped 1.8% today.