IG Group has completed its acquisition of Australian cryptocurrency exchange Independent Reserve after receiving final approval from the Monetary Authority of Singapore.
The FTSE 250 derivatives broker announced the deal’s closure on Friday, four months after first revealing plans to purchase the Sydney-based platform. IG has acquired an initial 70% stake for up to A$124.6 million (£60.8 million), including a contingent earn-out tied to fiscal 2026 performance.
The transaction gives IG licensed exchange and over-the-counter trading capabilities in both Australia and Singapore, markets where obtaining fresh regulatory approval can take years.
“This acquisition strengthens our crypto capabilities and positions us to meet growing customer demand across APAC and the Middle East,” said Matt Macklin, IG’s Managing Director for Asia Pacific and the Middle East.
Crypto push accelerates
IG plans to launch a spot cryptocurrency trading proposition for customers in Singapore, Australia and the UAE during the second half of 2026. The offering will be “powered by” Independent Reserve’s technology stack.
The acquisition marks a shift from IG’s partnership-led approach to crypto. Last year the broker launched spot trading in the UK through a tie-up with Uphold, but the Independent Reserve deal gives it proprietary infrastructure and an in-house team with over a decade of exchange experience.
Independent Reserve reported A$35.3 million in revenue for the year ending June 2025, representing 88% growth on the prior period. The firm holds A$1.7 billion in assets under custody and serves roughly 129,400 funded accounts.
Independent Reserve’s leadership team and employees retain the remaining 30% stake. IG holds a call option to acquire this portion based on performance in fiscal years 2027 and 2028, with the total enterprise value capped at A$285.1 million.
Adrian Przelozny, CEO and co-founder of Independent Reserve, will remain with the business.
“Combining our crypto expertise with IG’s scale across APAC and the Middle East accelerates our mission to bring trusted, regulated crypto trading to a wider audience,” he said.
IG expects the acquisition to be cash EPS accretive in fiscal 2027.
