IG Group Holdings Plc (LSE:IGG) is diving deeper into crypto with the acquisition of Australian exchange Independent Reserve, in a deal worth A$178 million (£86.8 million). The move fast-tracks IG’s entry into the Asia-Pacific crypto market and adds a team of homegrown specialists to its ranks.
Independent Reserve is one of Australia’s largest and fastest-growing digital asset platforms, with a strong presence in both Australia and Singapore. It already offers trading in 34 digital assets, serving retail and institutional investors, and posted revenues of A$35.3 million in the 12 months to June, nearly double the previous year.
IG will acquire 70% of the business for A$109.6 million, excluding A$8.4 million in surplus cash. A further payment of A$15 million may be made based on FY26 performance.
The remaining 30% is subject to a call option, with valuation based on performance in FY27 and FY28. Completion is expected in early 2026, subject to regulatory approval.
Matt Macklin, IG’s Managing Director for Asia Pacific & Middle East, called the deal a milestone moment: “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. I am delighted that the Independent Reserve team will join IG as they embark on their next phase of growth.”
For IG, this is about more than just adding a new business — it’s about plugging into the booming Asia-Pacific crypto scene while complementing the group’s recent organic rollouts in the UK and US. The company said the deal will be earnings-accretive in the first full year after completion and is expected to close in early 2026, pending regulatory approvals.