IG Group spends $72.4 million to acquire 70% stake in Australian crypto exchange Independent Reserve

PANews reported on September 19 that online trading platform IG Group acquired a majority stake in Australian cryptocurrency exchange Independent Reserve for US$72.4 million, a move aimed at strengthening its position in the fast-growing crypto market in the Asia-Pacific region, while supplementing its recent crypto business layout in the UK and the US. IG Group will initially acquire 70% of Independent Reserve's equity and have the option to acquire the remaining 30% based on performance in the future. The transaction is expected to be completed in early 2026 with a total price of US$117.6 million. Independent Reserve is one of Australia's first regulated crypto trading platforms, supporting the transaction of 34 cryptocurrencies, covering the Australian and Singapore markets. The platform achieved revenue of US$23.3 million in the fiscal year ended June 2025, an increase of 88% year-on-year, a 60% increase in monthly active users, and a total asset custody scale of US$1.12 billion. IG Group expects the acquisition to increase the company's revenue starting from fiscal 2027.