IG to Buy Independent Reserve – Crypto Exchange Acquisition
IG Group has agreed to buy a 70% stake in Australian crypto exchange Independent Reserve for A$395 million in a major crypto exchange acquisition. The deal, subject to MAS and FIRB approvals and expected to close by Q3 2024, accelerates IG’s Asia-Pacific expansion. Independent Reserve serves over 165,000 customers and holds A$5 billion in assets under custody. In June 2025 it reported A$35.3 million revenue, up 88% year-on-year, with 11,600 monthly active users (up 60%). This Independent Reserve acquisition grants IG full digital assets licences, local tech infrastructure and 34 digital assets to boost its trading services in Australia and Singapore. Funded via existing cash and debt, the transaction has minimal EPS impact and promises cost synergies. Overall, the crypto exchange acquisition strengthens IG’s retail and institutional offerings in key Asia-Pacific markets.
Neutral
The acquisition enhances IG’s market reach and regulatory standing but does not directly affect the fundamentals of any specific cryptocurrency. While it supports long-term adoption and offers broader digital asset services, the news has limited immediate impact on individual coin prices, making the overall effect neutral.