UK-based online trading firm IG Group has made a significant move into the Asia-Pacific crypto market by acquiring Australian cryptocurrency exchange Independent Reserve in a deal valued at $117 million, Reuters reported on Friday.
The acquisition enhances IG’s operations alongside its UK business and marks a major step in the company’s global crypto strategy. Independent Reserve, a prominent digital asset exchange, has a strong presence in both Australia and Singapore and offers trading in 34 cryptocurrencies to retail and institutional investors. The exchange posted A$35.3 million in revenue for the 12 months ending June, nearly double that of the previous year.
“This acquisition marks an important step in IG’s crypto strategy in a key region,” said Matt Macklin, IG’s Managing Director. “Independent Reserve is one of Australia’s largest and fastest-growing digital asset exchanges with established regulatory foundations, proven technology and strong leadership. I am delighted that the Independent Reserve team will join IG as they embark on their next phase of growth.”
IG Group will initially acquire 70% of Independent Reserve, with the option to purchase the remaining 30% depending on performance in the 2027 and 2028 financial years. “Completion is subject to regulatory approvals from MAS in Singapore and FIRB in Australia and currently expected in early 2026,” the company stated. The deal is also expected to be accretive to cash earnings per share in the first full financial year after closing.
This move follows IG Group’s June announcement, when it became the first UK-listed company to allow retail investors in the UK to trade BTC, ETH, XRP, and 35 other cryptocurrencies. Under that offering, IG’s retail clients can trade 38 digital assets through a partnership with the crypto platform Uphold.
The acquisition comes as the UK prepares for new regulations in 2026, requiring crypto firms to collect and report detailed information on every customer trade and transfer, part of a broader effort to strengthen oversight in the digital asset sector.
