UK-based online trading firm IG Group has acquired a majority stake in Australian cryptocurrency exchange Independent Reserve in a deal valued at A$178 million ($117 million). The acquisition, announced on Friday, represents IG Group's strategic expansion into the Asia-Pacific crypto market.
IG Group will initially acquire 70% of Independent Reserve, with an option to purchase the remaining 30% based on the exchange's performance in the financial years 2027 and 2028. The deal is subject to regulatory approvals from the Monetary Authority of Singapore (MAS) and Australia's Foreign Investment Review Board (FIRB), with completion expected in early 2026.
Independent Reserve is one of Australia's oldest regulated crypto platforms with a strong presence in both Australia and Singapore. The exchange offers trading in 34 digital assets and serves both retail and institutional investors. The platform reported impressive growth, with revenue reaching A$35.3 million ($23.3 million) in the 12 months to June 2025, representing an 88% year-over-year increase. The exchange also saw a 60% increase in monthly active users, reaching approximately 11,600, and manages $1.12 billion in assets under custody from 129,400 funded accounts.
Matt Macklin, IG's Managing Director for Asia Pacific and the Middle East, stated: "This acquisition marks an important step in IG's crypto strategy in a key region. Independent Reserve is one of Australia's largest and fastest-growing digital asset exchanges with established regulatory foundations, proven technology and strong leadership."
The acquisition complements IG Group's recent crypto rollouts in the UK and US, where in June 2025, the company became the first UK-listed firm to allow UK retail investors to trade BTC, ETH, XRP, and 35 other tokens through a partnership with crypto platform Uphold.
