IG Group announced on Friday morning that it has acquired a 70% stake in Australian crypto exchange Independent Reserve.
The deal will see the London-listed broker pay A$109.6m (£53.4m) initially, with the potential for an additional A$15.0m (£7.3m) payment dependent on performance in 2026.
IG also has a call option to acquire the remaining 30% of the business. That is subject to the crypto firm’s performance in 2027 and 2028.
The deal is still subject to regulatory approvals in Singapore and Australia.
As that suggests, the addition of the company will give the broker the ability to offer crypto trading services to clients in those two countries.
IG launched physical crypto for its UK customers earlier this year.
Breon Corcoran, who joined the company as CEO in January of last year, has made a push to give the broker a complete suite of products in all its key markets.
In practice that means having CFDs, spot crypto, cash equities, and exchange-traded derivatives for customers globally. You can see this from the above, which is taken from the broker’s annual report in 2024.
“This acquisition marks an important step in IG’s crypto strategy in a key region,” said Matt Macklin, 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. I am delighted that the Independent Reserve team will join IG as they embark on their next phase of growth.”
