IG Group to acquire Australian crypto exchange for about 87 million pounds

IG Group Holdings said Friday it has agreed to acquire Australian cryptocurrency exchange Independent Reserve for an initial enterprise value of 86.8 million British Pounds (about $107 million).

The deal accelerates the online trading company's expansion into digital asset markets in the Asia-Pacific region, complementing its recent crypto product launches in the U.K. and U.S., according to the company.

IG will initially purchase a 70% stake in the exchange for about 53.4 million British Pounds, with an option to acquire the remaining 30% at a later date based on future performance.

"This acquisition marks an important step in IG's crypto strategy in a key region," said Matt Macklin, IG's Managing Director of Asia Pacific & 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."

For the 12 months ending June 30, Independent Reserve generated revenue of 17.7 million British Pounds, an 88% increase from the prior year, the company said.

The leadership team and employees will remain with Independent Reserve, which has permissions to operate in Australia and Singapore.

The transaction is subject to regulatory approvals and is expected to be completed in early 2026.