Securing Compliance-Driven Growth: IG Acquires Leading Asia-Pacific Crypto Exchange

IG Group, a global online trading firm, has agreed to acquire Independent Reserve, an Australian cryptocurrency exchange, for an enterprise value of A$178 million (approximately $117.1 million). The deal, which includes an initial 70% stake purchase for A$109.6 million, is subject to regulatory approvals from Australia’s Foreign Investment Review Board (FIRB) and Singapore’s Monetary Authority of Singapore (MAS). Completion is expected in early 2026, with the option for IG to acquire the remaining 30% based on performance metrics in fiscal years 2026 and 2027IG Group Expands Crypto Reach with $117 Million Acquisition of Reserve^[1].

The acquisition marks a strategic expansion for IG into the Asia-Pacific region, where Independent Reserve operates as one of the largest and fastest-growing crypto exchanges. Independent Reserve reported FY25 revenue of A$35.3 million, a 88% year-over-year increase, with 76% of revenue generated in Australia and 24% in Singapore. The platform serves 11,600 average monthly active customers, up 60% from the prior year, and offers trading in 34 digital assets across multiple currencies. Its strong regulatory framework and technological infrastructure align with IG’s goal to expand its crypto services in a region characterized by rapid digital asset adoptionIG Group acquires Independent Reserve for $178m^[2].

Adrian Przelozny, CEO of Independent Reserve, emphasized that the partnership would enable the exchange to "accelerate its growth" while retaining its brand identity and leadership team. The acquisition also secures Independent Reserve’s existing workforce and 30% equity stake for current employees, ensuring continuity in operations. IG’s Managing Director for Asia-Pacific and the Middle East, Matt Macklin, highlighted the move as "an important step in IG’s crypto strategy," underscoring the alignment between IG’s vision for regulated crypto trading and Independent Reserve’s missionIG Group Holdings has acquired Independent Reserve^[3].

Regulatory compliance remains a cornerstone of the deal. Independent Reserve holds permissions to operate in Australia and Singapore, with no mention of additional regulatory hurdles beyond the pending FIRB and MAS approvals. The transaction is expected to be "cash EPS accretive" in the first full financial year post-closure and achieve a return on invested capital exceeding IG’s weighted average cost of capital by FY29-31IG Group Expands Crypto Reach with $117M Acquisition^[4].

This acquisition builds on IG’s recent crypto initiatives, including its 2025 launch of spot crypto trading for UK retail investors via Uphold and the expansion of Tastytrade’s US crypto offerings to 23 coins. The addition of Independent Reserve’s regulated platform in Australia and Singapore positions IG to further penetrate the Asia-Pacific and Middle East markets, where demand for secure and compliant crypto services is risingIG Group Expands Crypto Reach with $117M Acquisition^[5].

The deal reflects broader trends in the crypto industry, where traditional financial firms are increasingly integrating digital assets into their portfolios. Independent Reserve’s 70% annual revenue growth and 28.2% EBITDA margin (A$9.9 million in FY25) demonstrate the profitability potential of regulated crypto exchanges. Analysts note that IG’s move could set a precedent for similar acquisitions in regions with established regulatory frameworks, though challenges remain in scaling operations while maintaining complianceIG Group Expands Crypto Reach with $117M Acquisition^[6].